North Dakota § 41-01-23 - (1-309) Option to accelerate at will
Full text of North Dakota North Dakota Century Code § 41-01-23 — (1-309) Option to accelerate at will, with citation guidance and answers to common questions.
§ 41-01-23. (1-309) 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.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-01-23
What does North Dakota Century Code § 41-01-23 cover?
Section 41-01-23 ("(1-309) Option to accelerate at will") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 41-01-23?
A common citation format is "North Dakota Century Code § 41-01-23" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-01-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.