Tex. Bus. & Com. Code § 1.309 · Subchapter C. TERRITORIAL APPLICABILITY AND GENERAL RULES
OPTION TO ACCELERATE AT WILL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
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.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 542, Sec. 1, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.1.htm
- Text hash
- sha256 b487612ff7ce5c0a3f7e0f07139d3fb84d173e8e5630422cafd253b08ac30230
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.