1999 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.1-208 Option to accelerate at will.
336.1-208 Option to accelerate at will.
A term providing that one party or a successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or "when the party claims to be insecure" or in words of similar import shall be construed to mean that the party shall have power to do so only with the good faith belief 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.
HIST: 1965 c 811 s 336.1-208; 1986 c 444
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