Colorado Statutes
§ 4-1-309 — 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.
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Legislative History
Source: L. 2006: Entire article R&RE, p. 469, � 1, effective September 1.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of article§ 4-1-104
Construction against implied repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - gender§ 4-1-107
Captions§ 4-1-201
General definitions§ 4-1-202
Notice - knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - seasonableness§ 4-1-302
Variation by agreement§ 4-1-304
Obligation of good faith