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cognovit note |
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cognovit note (kognō´vit),
n a written authority of a debtor granting entry of a judgment against the debtor if the amount set forth in the note is not paid by the debtor when due. A cognovit note sets aside every defense that the maker of the note may otherwise have had. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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No references found | Both the settlement agreement and cognovit note examples are paid-for waivers, and at a higher level so was the waiver in Snepp--the CIA agent was paid a salary to take a job which had the waiver as a condition. A cognovit note allows the "contracting parties to preclude factfinding by agreeing to confession of judgment[]. Kawamura separately agreed to the company's demands and wrote a cognovit note to end the case. |
cognovit note |
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