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Virginia Law

Code of Virginia

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Code of Virginia
Title 8.1A. Uniform Commercial Code — General Provisions
Part 3. Territorial Applicability and General Rules
3/11/2026

§ 8.1A-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.

1964, c. 219, § 8.1-208; 1974, c. 572; 2003, c. 353.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.