By Andrew R. Schwartz | Published May 29, 2014 | Posted in Commercial Litgation | Tagged Tags: confession judgment litigation, creditor, debtor | Leave a comment
What is a “confession-of-judgment clause”? A “confession-of-judgment clause,” also called a “cognovit,” is a contract provision that lets a creditor appoint a lawyer for the debtor, who agrees to let the creditor take a judgment against the debtor.
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