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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>377902</law_id><section_number>8.1A-309</section_number><catch_line>Option to accelerate at will</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="13" identifier="8.1A">Uniform Commercial Code &#x2014; General Provisions</unit><unit label="part" level="2" order_by="2" identifier="3">Territorial Applicability and General Rules</unit></structure><text>
						<section><p>A term providing that one <span class="dictionary">party</span> or that <span class="dictionary">party</span>&#x2019;s successor in interest may accelerate payment or performance or require <span class="dictionary">collateral</span> or additional <span class="dictionary">collateral</span> &#x201C;at will&#x201D; or when the <span class="dictionary">party</span> &#x201C;deems itself insecure,&#x201D; or words of similar import, means that the <span class="dictionary">party</span> has power to do so only if that <span class="dictionary">party</span> in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the <span class="dictionary">party</span> against which the power has been exercised.</p></section></text><history>1964, c. 219, &#xA7; 8.1-208; 1974, c. 572; 2003, c. 353.</history><metadata></metadata></law>
