The act of a debtor permitting judgment to be entered against him by his creditor, for a stipulated sum without legal proceedings of any kind. This is usually a written statement contained within a Judgment Note.
An entry of judgment upon the admission or confession of the debtor without the formality involved in an ordinary proceeding.
A provision in a contract that allows the creditor to apply to the court for judgment without notice to the debtor.
These are filed when the parties that have signed the “Confession of Judgment” have broken their agreement. They provide for a quick remedy if the borrowing party fails to comply.
Act of a debtor in permitting judgment to be entered against him/her by a creditor. Also known as cognovit judgment.
During a court proceeding, it is an entry of judgment upon the debtor's voluntary admission or confession.
Confession of judgment, in law, is a legal term with two meanings.