12A:1-208.Ā  Option to accelerate at will A term providing that one party or his successor in interest may accelerateĀ  payment or performance or require collateral or additional collateralĀ  "atĀ  will"Ā  orĀ  "when he deems himself insecure"Ā  or in words of similar importĀ  shall be construed to mean that he shall have power to do so only if he in goodĀ  faith believes that the prospect of payment or performance is impaired.Ā  TheĀ  burden of establishing lack of good faith is on the party against whom theĀ  power has been exercised.

L.1961, c. 120, s. 1-208.
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