Skip to main content
Back To Top Top Back To Top
Home Button Home Button Home Button
The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1310.07 | Option to accelerate at will - UCC 2A-109.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1310 Leases
 
Effective:
November 6, 1992
Latest Legislation:
House Bill 693 - 119th General Assembly
PDF:
Download Authenticated PDF
 

(A) A term providing that one party or his successor in interest may accelerate payment or performance or require collateral or additional collateral "at will," "when he deems himself insecure," or in words of similar import shall be construed to mean that he has power to do so only if he believes in good faith that the prospect of payment or performance is impaired.

(B) With respect to a consumer lease, the burden of establishing good faith under division (A) of this section is on the party who exercised the power. Otherwise, the burden of establishing lack of good faith is on the party against whom the power has been exercised.

Available Versions of this Section