With the old UDK (free version) would you still be able to buy a license and sell the game?

I have the (free version) of UDK and I haven’t been on it for a long time, I have recently gone onto the UDK website and have realised that a new version for it has come out, would you be able to still develop the game in the old version, publish and sell the game.

Epic isn’t licensing UDK for new projects anymore. We certainly encourage you to consider using UE4 which is license fee free under the EULA.