Mississippi § 75-2A-109 - Option to accelerate at will.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-2A-109 — Option to accelerate at will., with citation guidance and answers to common questions.
§ 75-2A-109. Option to accelerate at will.
A term providing that one (1) 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 must be construed to mean that he has power to do so only if he in good faith believes that the prospect of payment or performance is impaired. With respect to a consumer lease, the burden of establishing good faith under subsection (1) 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.
Frequently Asked Questions About Mississippi § 75-2A-109
What does Mississippi Code of 1972 Annotated § 75-2A-109 cover?
Section 75-2A-109 ("Option to accelerate at will.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 75-2A-109?
A common citation format is "Mississippi Code of 1972 Annotated § 75-2A-109" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 75-2A-109 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.