89-1-325 - Postponement or extension shall not substantially diminish value of contract or obligation. - Mississippi Statutes

§ 89-1-325. Postponement or extension shall not substantially diminish value of contract or obligation.
 

No postponement or extension shall be ordered under conditions which, under the temporary emergency, would substantially diminish or impair the value of the contract or obligation of the person against whom the relief is sought without reasonable allowance to justify the exercise of the police power hereby authorized. 
 

Sources: Laws,  1980, ch. 371, § 13, eff from and after passage (approved April 25, 1980).