Indiana Statutes
§ 26-1-1-208 — Option to accelerate at will
A term providing that one party or his
successor in interest may accelerate payment or performance or require
collateral or additional collateral "at will" or "when he deems himself
insecure" or in words of similar import shall be construed to mean that
he shall have power to do so only if he 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 whom the power
has been exercised.
Formerly: Acts 1963, c.317, s.1-208.
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Related
Van Bibber v. Norris
419 N.E.2d 115 (Indiana Supreme Court, 1981)
Van Bibber v. Norris
404 N.E.2d 1365 (Indiana Court of Appeals, 1980)
Fire Police City County Federal Credit Union v. Eagle
771 N.E.2d 1188 (Indiana Court of Appeals, 2002)
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
Severability