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2012 Missouri Revised Statutes
TITLE XXVI TRADE AND COMMERCE
Chapter 408 Legal Tender and Interest
Section 408.552 Enforceability of default provisions.


MO Rev Stat § 408.552 (2012) What's This?

Enforceability of default provisions.

408.552. An agreement of the parties to a credit transaction concerning default by the borrower is enforceable only to the extent that:

(1) The borrower fails to make a payment as required by agreement; or

(2) The lender's prospect of payment, performance, or ability to realize upon the collateral is significantly impaired; the burden of establishing significant impairment is on the lender.

(L. 1979 S.B. 305)

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