2001 Minnesota Statutes

     336.1-102 Purposes; rules of construction; variation by 
  agreement. 

    (1) This chapter shall be liberally construed and applied 
 to promote its underlying purposes and policies.  

    (2) Underlying purposes and policies of this chapter are 

    (a) to simplify, clarify, and modernize the law governing 
 commercial transactions; 

    (b) to permit the continued expansion of commercial 
 practices through custom, usage, and agreement of the parties; 

    (c) to make uniform the law among the various jurisdictions.

    (3) The effect of provisions of this chapter may be varied 
 by agreement, except as otherwise provided in this chapter and 
 except that the obligations of good faith, diligence, 
 reasonableness, and care prescribed by this chapter may not be 
 disclaimed by agreement but the parties may by agreement 
 determine the standards by which the performance of such 
 obligations is to be measured if such standards are not 
 manifestly unreasonable.  

    (4) The presence in certain provisions of this chapter of 
 the words "unless otherwise agreed" or words of similar import 
 does not imply that the effect of other provisions may not be 
 varied by agreement under subsection (3).  

    (5) In this chapter unless the context otherwise requires 

    (a) words in the singular number include the plural, and in 
 the plural include the singular; 

    (b) words of one gender include the other genders, and when 
 the sense so indicates words of the neuter gender may refer to 
 any gender.  

    (6) Nothing in this chapter shall be construed to authorize 
 the establishment of branch offices for banks, savings banks, 
 trust companies, or savings associations.  

    HIST: 1965 c 811 s 336.1-102; 1986 c 444; 1995 c 202 art 1 s 
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