cognovit judgment
- A cognovit judgment refers to the acceptance by a debtor that they owe a particular debt, agreeing that a judgment against them can be made without any notice or a formal hearing
- After realizing he couldn't repay his loan, the businessman decided to agree to a cognovit judgment.
- The court approved the cognovit judgment as the defendant accepted her debt obligation.
- Through a cognovit judgment, the debtor provided the creditor with an expedited legal remedy.
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