§490:2A-109 - Option to accelerate at will.
§490:2A-109 Option to accelerate at will.
(a) A term providing that one party or that party's successor in interest may
accelerate payment of performance or require collateral or additional
collateral "at will" or "when the party deems the party's self
insecure" or in words of similar import must be construed to mean that the
party has power to do so only if the party in good faith believes that the
prospect of payment or performance is impaired.
(b) With respect to a consumer lease, the
burden of establishing good faith under subsection (a) is on the party who
exercised the power; otherwise the burden of establishing lack of good faith is
on the party against whom the power has been exercised. [L 1991, c 40, pt of
§1]