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| Definition Of: |
Acceleration
A payee's right to demand immediate payment of an entire loan balance, including payments otherwise due at a future time, if a promisor defaults under a promissory note's terms. For example, a payee may require a repayment of all remaining installments if a promisor fails to make a regularly scheduled payment when due.
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The 'Lectric Law Library INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A: Page 1 of 27.
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