Search Results for: DEMAND CLAUSE

cognovit

glossary /

cognovit (kog-noh-vit). [Latin “he has conceded (a debt or an action)”] An acknowledgment of debt or liability in the form of a confessed judgment. • Formerly, credit contracts often included a cognovit clause in which the consumer relinquished, in advance, any right to be notified of court hearings in any suit for nonpayment — but […]

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si petatur tantum

glossary /

si petatur tantum (sI pi-tay-t[schwa]r tan-t[schwa]m). [Law Latin] Hist. If asked only. “In blench holdings, where the return for the lands is generally elusory, that return is for the most part due and payable si petatur tantum; and this clause, by universal practice, has been interpreted to mean, if asked only within the year (si

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