Cognovit Judgement (Noun)
Meaning
A judgment entered after a written confession by the debtor without the expense of ordinary legal proceedings.
Classification
Nouns denoting acts or actions.
Examples
- The creditor obtained a cognovit judgement against the debtor, who had signed a confession of judgement prior to the court proceedings.
- The company's financial struggles led to a cognovit judgement being entered against them, resulting in the seizure of their assets.
- In exchange for a reduced settlement, the defendant agreed to a cognovit judgement, waiving their right to a trial.
- The court entered a cognovit judgement against the individual, who had failed to respond to the creditor's lawsuit and had signed a confession of judgement.
- The business owner's decision to sign a cognovit judgement proved costly, as it allowed the creditor to immediately begin collecting on the debt.