Idaho Statutes
§ 28-1-309 — OPTION TO ACCELERATE AT WILL
Idaho·Title 28 COMMERCIAL TRANSACTIONS·Part 3. TERRITORIAL APPLICABILITY AND GENERAL RULES·Ch. 1 UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS
A term providing that one (1) 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
[(28-1-309) 28-1-208, added 1967, ch. 161, sec. 1-208, p. 351; am. and redesig. 2004, ch. 43, sec. 27, p. 152.]
Nearby Sections
15
§ 28-1-101
SHORT TITLES§ 28-1-102
SCOPE OF CHAPTER§ 28-1-104
CONSTRUCTION AGAINST IMPLIED REPEAL§ 28-1-105
SEVERABILITY§ 28-1-106
USE OF SINGULAR AND PLURAL — GENDER§ 28-1-107
SECTION CAPTIONS§ 28-1-201
GENERAL DEFINITIONS§ 28-1-202
NOTICE — KNOWLEDGE§ 28-1-204
VALUE§ 28-1-205
REASONABLE TIME — SEASONABLENESS§ 28-1-206
PRESUMPTIONS