a provision in a contract or promissory note that if some specified event (like
not making payments on time) occurs then the entire amount is due or other requirements
are due now, pronto. This clause is most often found in promissory notes with installment
payments for purchase of real property and requires that if the property is sold
then the entire amount of the note is due immediately (the so-called "due on sale
clause"). Some states prohibit "due on sale" and always allow the new property owner
to assume the debt.
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