Virginia Statutes
§ 8.1A-309 — Option to accelerate at will
Virginia § 8.1A-309
JurisdictionVirginia
Title 8.1AUNIFORM COMMERCIAL CODE — GENERAL PROVISIONS
Part 3TERRITORIAL APPLICABILITY AND GENERAL RULES
This text of Virginia § 8.1A-309 (Option to accelerate at will) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 8.1A-309 (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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Legislative History
1964, c. 219, § 8.1-208; 1974, c. 572; 2003, c. 353.
Nearby Sections
15
§ 8.1A-101
Short titles§ 8.1A-102
Scope of title§ 8.1A-104
Construction against implied repeal§ 8.1A-105
Repealed§ 8.1A-106
Use of singular and plural; gender§ 8.1A-107
Section captions§ 8.1A-201
General definitions§ 8.1A-202
Notice; knowledge§ 8.1A-204
Value§ 8.1A-205
Reasonable time; seasonableness§ 8.1A-206
PresumptionsCite This Page — Counsel Stack
Bluebook (online)
Virginia § 8.1A-309, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/8.1A/8.1A-309.