100

LAWS OF MARYLAND

[Ch. 49

1-207. Performance or acceptance under reservation of
rights.

A party who with explicit reservation of rights
performs or promises performance or assents to
performance in a manner demanded or offered by the other
party does not thereby prejudice the rights reserved.
Such words as "without prejudice," "under protest" or the
like are sufficient.

1—208. Option to accelerate at will.

A term providing that one party or his successor in
interest may accelerate payment or performance or require
collateral or additional collateral "at will" or "when he
deems himself insecure" or in words of similar import
shall be construed to mean that he shall have power to do
so only if he 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
whom the power has been exercised.

TITLE 2. SALES.

SUBTITLE 1. SHORT TITLE. GENERAL CONSTRUCTION AND
SUBJECT MATTER.

2-101. Short title.

This [subtitle] TITLE shall be known and may be
cited as MARYLAND Uniform Commercial Code-Sales.

2—102. Scope; certain security and other transactions
excluded from this [subtitle] TITLE.

Unless the context otherwise requires, this
[subtitle] TITLE applies to transactions in goods; it
does not apply to any transaction which although in the
form of an unconditional contract to sell or present sale
is intended to operate only as a security transaction nor
does this [subtitle] TITLE impair or repeal any statute
regulating sales to consumers, farmers or other specified
classes of buyers.

2—103. Definitions and index of definitions.

(1) In this [subtitle] TITLE unless the context
otherwise requires

(a)    "Buyer" means a person who buys or
contracts to buy goods.

(b)    "Good faith" in the case of a merchant
means honesty in fact and the observance of reasonable