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CONFESSION OF JUDGMENT

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Contract Law; Typically this is a contract clause within a debt instrument which, upon nonpayment of a debt by a specified date, allows the lender/creditor the ability to proceed directly to court to obtain an immediate judgment and proceed expeditiously to enforcement and collection. In essence, the borrower/debtor confesses that they owe the lender/creditor money if it is not paid by such date.

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