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cognovit judgment
 

Definitions from WordNet

Noun cognovit judgment has 1 sense
  1. confession of judgment, confession of judgement, cognovit judgment, cognovit judgement - a judgment entered after a written confession by the debtor without the expense of ordinary legal proceedings
    --1 is a kind of judgment, judgement, judicial decision

Definitions from the Web

Cognovit Judgment

Definition: A legal document signed by a debtor that waives the right to a trial and allows the creditor to obtain a judgment against them.

Senses:

  1. Legal Sense: A legal agreement made by a debtor consenting to a judgment being entered against them in the event of non-payment.
  2. Debt Collection Sense: The judgment obtained through a cognovit clause, allowing the creditor to enforce collection actions.

Examples:

  1. He signed a cognovit judgment, giving his creditors the authority to seize his property if he failed to make payments.
  2. By signing the cognovit judgment, she inadvertently forfeited her right to challenge the validity of the debt in court.
  3. After receiving the cognovit judgment, the creditor was able to garnish the debtor's wages to satisfy the outstanding debt.

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