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The Laws of New York
Consolidated Laws of New York
CHAPTER 38
Uniform Commercial Code
ARTICLE 1
No title
PART 3
Territorial Applicability and General Rules
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SECTION 1-308
Performance or Acceptance Under Reservation of Rights
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PART 3
Territorial Applicability and General Rules
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SECTION 1-310
Subordinated Obligations
This entry was published on 2014-12-26
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SECTION 1-309
Option to Accelerate at Will
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 1, PART 3
Section 1--309. Option to Accelerate at Will.

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.