Idaho Code § 28-1-309
This is the official text of Idaho Code § 28-1-309, part of Idaho’s Code — part of the compiled statutory law of Idaho, published by the state as "Code." Browse the sections below, each linked to its official government source.
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28-1-309 OPTION TO ACCELERATE AT WILL.
Official statutory text
PART 3.
TERRITORIAL APPLICABILITY AND GENERAL RULES
28-1-309. Option to accelerate at will. 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.
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.]
TERRITORIAL APPLICABILITY AND GENERAL RULES
28-1-309. Option to accelerate at will. 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.
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.]
Status: in_force · Read it on the official government site
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