2005 Connecticut Code - Sec. 42a-1-208. Option to accelerate at will.
Sec. 42a-1-208. 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.
Cited. 178 C. 640, 646. Does not apply to real estate mortgage transactions. 183 C. 369, 372. Cited. 190 C. 756, 764. Cited. 203 C. 407, 417.
Cited. 13 CA 712, 718, 720, 722, 723. Cited. 31 CA 455, 468.
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