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

双语律师Benita，国际知名法学院金融专业，擅长翻译各类与项目开发及融资相关的法律文件。