70A-2a-109. Option to accelerate at will.
(1) 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 must be construed to mean that he has power to do so
only if he in good faith believes that the prospect of payment or performance is impaired.
(2) With respect to a consumer lease, the burden of establishing good faith under
Subsection (1) is on the party who exercised the power; otherwise the burden of establishing lack
of good faith is on the party against whom the power has been exercised.
Enacted by Chapter 197, 1990 General Session
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Last revised: Thursday, May 28, 2009