cognovit clause

cognovit clause. A contractual provision by which a debtor agrees to jurisdiction in certain courts, waives notice requirements, and authorizes the entry of an adverse judgment in the event of a default or breach. • Cognovit clauses are outlawed or restricted in most states. [Cases: Federal Civil Procedure 2396; Judgment 54. C.J.S. Judgments §§ 140, 143–144, 170.]

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词条贡献者

法律翻译Jane，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与私募及对冲基金设立有关的法律文件。