ORS 71.3090
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. [2009 c.181 §22]
Note: See note under 71.3010 (Territorial applicability).

Source: Section 71.3090 — Option to accelerate at will, https://www.­oregonlegislature.­gov/bills_laws/ors/ors071.­html.

Notes of Decisions

Defendant was entitled to exercise its right to repossess automobile where, inter alia plaintiff was repeatedly late with payments, was twice unemployed during period of loan, was warned about possibility of repossession and defendant had reason to believe it had no right of recourse against car dealer if plaintiff failed to make payments. Salsberry v. Ford Motor Credit Co., 54 Or App 522, 635 P2d 669 (1981), Sup Ct review denied

There was no substantial evidence that defendant acted in bad faith or that its claim of insecurity was dishonest. Salsberry v. Ford Motor Credit Co., 54 Or App 522, 635 P2d 669 (1981), Sup Ct review denied

Green check means up to date. Up to date

Current through early 2024

§ 71.3090’s source at oregon​.gov