1.309 – OPTION TO ACCELERATE AT WILL. A term providing
Texas Business and Commerce Code § 1.309
Summary
This law allows a party to accelerate payment or performance if they genuinely believe that the other party may not fulfill their obligations. It protects the right to demand collateral under certain conditions while placing the burden of proof on the accused party to show bad faith.
Allows acceleration of payment if insecurity is perceived.
Requires good faith belief for acceleration rights.
Burden of proof lies with the party claiming lack of good faith.
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In simple terms: Learn about Texas's OPTION TO ACCELERATE AT WILL. A term providing law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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