As noted, we recommend the inclusion of a confession of judgment provision in a settlement agreement.
Simply put, a confession of judgment is a contractual provision providing that if a monetary default occurs in an agreement requiring a party to make payments to another party, the party that has defaulted agrees to the entry of a judgment in the creditor's favor without a trial, or even notice.
On this ground, both parties may mutually seek for the annulment, and while no judgment on the pleadings, summary judgment, or confession of judgment
shall be allowed, the parties shall both be required as far as practicable to present affidavits or certifications from parents, children of legal age, and other relatives attesting to the fact of the separation period without prejudice to whatever documents the court may further require," it said.
Or in the alterative, by running into the courthouse to find a judge to render a "show cause" order based upon a confession of judgment
in the note, impermissible in Florida, also lacks due process.
A confession of judgment is the modern-day form of a cognovit judgment--i.
A creditor need only have an attorney sign a confession of judgment to obtain a judgment by confession (assuming that the creditor has the right to such a judgment), and can do so without ever notifying the debtor.
The conflict at base involves the question of whether debt litigation ending in default or confession of judgment
represented colonial creditors using litigation as a mechanism for securing credit (Mann's characterization, on which he bases his theory of legal modernization) or, rather, whether those judgments primarily represented real defaults deriving from deep economic instability (my characterization).
A variation of a lawsuit under the note is the confession of judgment
lawsuit for money, which allows the lender to immediately obtain a judgment against the borrower.
Mid-Power Service Corporation (OTCBB:MPSC) today filed pleadings in its pending Nevada state court lawsuit against Edward Mike Davis seeking a temporary restraining order and a preliminary injunction to prevent Davis from filing a Confession of Judgment
If possible, include a confession of judgment
clause, which states the debtor agrees to let the creditor enter a judgment against it if it defaults.
This Note presents an empirical examination of the nature of default judgments and confession of judgment
cases in the colonial courts.
The Confession of Judgment
gets its name because the debtor "confesses" an amount due to a creditor before any lawsuit is filed, and the creditor can use it to obtain judgment if the debtor does not perform.