cognovit clause
- A section within an agreement where one party allows a judgment to be entered against them if they breach or default on their obligations
- The borrower agreed to include a cognovit clause in the loan agreement, giving the lender the right to enter judgment against him in case of default.
- The use of cognovit clause is disputed in some jurisdictions due to its potentially harsh consequences for the admitting party.
- In case of non-payment by the tenant, the landlord may take action based on the cognovit clause in the lease agreement.
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