|
|
Court OpinionsState LawsUS CodeUS Constitution |
Option to accelerate at will - 13 Pa. Cons. Stat. § 1208Legal Research Home > Pennsylvania Statutes Sponsored Links
§ 1208. Option to accelerate at will.
A term providing that one party or his successor in interest
may accelerate payment or performance or require collateral or
additional collateral "at will" or "when he deems himself
insecure" or in words of similar import shall be construed to
mean that he shall have power to do so only if he 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 whom the power has been exercised.
Section: Previous 1201 1202 1203 1204 1205 1206 1207 1208 1209 2101 2102 2103 2104 2105 2106 Next
Last modified: November 27, 2007 |