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State Law
Federal Law
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California Commercial Code Section 1309Legal Research Home > California Lawyer > Commercial Code > California Commercial Code Section 1309 A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised.Section: Previous 2101 2102 2103 2104 2105 2106 2107 1308 1309 1310 Next Last modified: July 31, 2008 |