confession of judgment

Definition of "confession of judgment"
  1. A clause, typically in a promissory note, that enables the lender to obtain a court order for the repayment of the debt without prior notification to the defaulting borrower
How to use "confession of judgment" in a sentence
  1. The caught off guard business owner was taken aback when she realized she had signed a loan agreement with a confession of judgment clause.
  2. In a desperate need for funds, John agreed to the confession of judgment, but regretted it when his default led to immediate collection measures.
  3. To safeguard their credit, many lenders opt to include a confession of judgment in their contracts.

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