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.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 1 - UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS
Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES
Section 28-1-302 - VARIATION BY AGREEMENT.
Section 28-1-303 - COURSE OF PERFORMANCE, COURSE OF DEALING, AND USAGE OF TRADE.
Section 28-1-304 - OBLIGATION OF GOOD FAITH.
Section 28-1-305 - REMEDIES TO BE LIBERALLY ADMINISTERED.
Section 28-1-306 - WAIVER OR RENUNCIATION OF CLAIM OR RIGHT AFTER BREACH.
Section 28-1-307 - PRIMA FACIE EVIDENCE BY THIRD PARTY DOCUMENTS.
Section 28-1-308 - PERFORMANCE OR ACCEPTANCE UNDER RESERVATION OF RIGHTS.