n Without Prejudice - Acceleration clauses - contra bonos mores? : financial law
|Article Title||Acceleration clauses - contra bonos mores? : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Natascha Van Vuuren and Khathu Neluheni|
|Publication Date||May 2014|
|Pages||27 - 28|
When a party to a contract defaults on one of their payments, one of the questions that arises is whether the creditor is entitled to accelerate payment for the entire amount. An acceleration clause is typically phrased in a manner that makes the full amount of a loan immediately due and payable. Any security the creditor may hold also becomes immediately executable.
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