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2019 Revised Code of Washington
Title 62A - Uniform Commercial Code
Chapter 62A.1 - General Provisions.
62A.1-309 Option to accelerate at will.
Universal Citation: WA Rev Code § 62A.1-309 (2019)
RCW 62A.1-309 Option to accelerate at will.
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure," or words of similar import, means that the party has power to do so only if that party 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 which the power has been exercised.
[ 2012 c 214 § 123.]
NOTES:
Application—Savings—2012 c 214: See notes following RCW 62A.1-101.
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