An acceleration clause —or acceleration covenant— in the law of contracts, is a term that fully matures the performance due from a party upon a breach of the contract. Such clauses are most prevalent in mortgages and similar contracts to purchase real estate in installments. Suppose, for example, the contract was for A to purchase Blackacre fr...
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http://en.wikipedia.org/wiki/Acceleration_clause
A contract stating that the unpaid balance becomes due and payable if specific actions transpire, such as failure to make interests payments on time.
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http://www.duke.edu/~charvey/Classes/wpg/bfglosa.htm
A provision that gives the lender the right to collect the balance of a loan if a borrower misses a payment.
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http://www.encyclo.co.uk/local/20452
n. this is a term used in law of contracts (for mortgages and real estate) which stands for full maturing of the performance due from a party upon a breach of one of the contract terms or non payment of one of the installations. Say for example, if any one of the installments go unpaid on time the holder may demand entire amount being unpaid and de...
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http://www.encyclo.co.uk/local/21213
A contract stating that the unpaid balance becomes due and payable if specific actions transpire, su
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http://www.encyclo.co.uk/local/22402
a provision of a mortgage, loan, or the like that advances the date of payment under certain circumstances.
Found on
https://www.infoplease.com/dictionary/acceleration-clause
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