12A:1-208 - Option to accelerate at will - New Jersey Statutes

12A:1-208.  Option to accelerate at will    A term providing that one party or his successor in interest may accelerate  payment or performance or require collateral or additional collateral  "at  will"  or  "when he deems himself insecure"  or in words of similar import  shall be construed to mean that he shall have power to do so only if he 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 whom the  power has been exercised.

     L.1961, c. 120, s. 1-208.