Confession Of Judgment

Confession Of Judgment
A written agreement signed by the defendant that accepts the liability and amount of damages that was agreed on. A confession of judgment is a way to circumvent normal court proceedings and avoid a lengthy legal process to resolve a dispute. Signing a confession of forfeits any of the rights the defendant has to dispute a claim in the future.

Also, the same effect of a confession of judgment can be attained by having a borrower sign a cognovit note when the borrow first becomes in debt to the lender. The note would say how much the debtor owed and that the debtor voluntarily subjects himself/herself to court authority to resolve any dispute. If the debtor defaults, the note could be presented to the court to obtain a judgment without even notifying the debtor of the court proceedings. Many people feel this is controversial because it doesn't allow the defendant to present a proper defense.

Investment dictionary. . 2012.

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  • Confession of judgment — is a legal term that refers to a type of contract (or a clause with such a provision) in which a party agrees to let the other party enter a judgment against him or her. Such contracts are highly controversial and may be invalidated as a… …   Wikipedia

  • confession of judgment — confession of judgment: acknowledgment by a debtor of a claim and consent that a judgment may be entered usu. without notice or hearing for the amount of the claim when it is due and unpaid compare cognovit note at note Merriam Webster’s… …   Law dictionary

  • confession of judgment — A written authorization by the debtor to allow the creditor or the creditor s attorney to enter a money judgment against the debtor if the obligation in the promissory note signed by the debtor is not paid when due. (Bernstein s Dictionary of… …   Glossary of Bankruptcy

  • confession of judgment — noun a judgment entered after a written confession by the debtor without the expense of ordinary legal proceedings • Syn: ↑confession of judgement, ↑cognovit judgment, ↑cognovit judgement • Topics: ↑law, ↑jurisprudence • Hypernyms …   Useful english dictionary

  • confession of judgment — The entry of a judgment upon the admission or confession of the debtor, without the formality, time, or extent involved in all ordinary action or proceeding. Cuikendall v Doe, 129 Iowa 453, 105 NW 698. See cognovit actionem; cognovit note;… …   Ballentine's law dictionary

  • confession — con·fes·sion n 1: an act of confessing 2: an acknowledgment of a fact or allegation as true or proven; esp: a written or oral statement by an accused party acknowledging the party s guilt (as by admitting commission of a crime) compare admission; …   Law dictionary

  • judgment — judg·ment also judge·ment / jəj mənt/ n 1 a: a formal decision or determination on a matter or case by a court; esp: final judgment in this entry compare dictum, disposition …   Law dictionary

  • Confession of error — is a legal practice whereby the United States Solicitor General in his or her role representing the federal government before the Supreme Court of the United States admits a lower court incorrectly decided a case and it is thereby sent back for… …   Wikipedia

  • confession relicta verificatione — Confession of judgment after pleading and before trial, the defendant confessing the plaintiff s cause of action and withdrawing or abandoning his defense or other procedures taken by him. 30A Am J Rev ed Judgm § 156 …   Ballentine's law dictionary

  • judgment — A sense of knowledge sufficient to comprehend nature of transaction. Thomas v. Young, 57 App. D.C. 282, 22 F.2d 588, 590. An opinion or estimate. McClung Const. Co. v. Muncy, Tex.Civ.App., 65 S.W.2d 786, 790. The formation of an opinion or notion …   Black's law dictionary

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