North Dakota § 41-01-23 (1-309) Option to accelerate at will

North Dakota Statutes

§ 41-01-23 — (1-309) Option to accelerate at will

North Dakota § 41-01-23

Title 41Uniform Commercial Code

Ch. 41-01General Provisions

This text of North Dakota § 41-01-23 ((1-309) Option to accelerate at will) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-01-23 (2026).

Text

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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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.