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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1301.309 | Option to accelerate at will - UCC 1-309.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1301 General Provisions
 
Effective:
June 29, 2011
Latest Legislation:
House Bill 9 - 129th General Assembly
PDF:
Download Authenticated PDF
 

Option to accelerate at will [UCC 1-309]

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 in 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.

Available Versions of this Section