cognovit judgement

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What is "Cognovit Judgment"?

Cognovit judgment is a legal term. It refers to a type of judgment that is entered (or decided) when a person (called the debtor) admits they owe money and agrees to pay it. This admission is usually made in writing. The process happens without going through the regular, longer legal steps that often involve a trial.

Usage Instructions

• Context: This term is mainly used in legal and financial contexts.
• Form: It is always used as a noun.

Example

• "After the company failed to pay its debts, the creditor sought a cognovit judgment, which allowed them to collect the owed money without a lengthy court trial."

Advanced Usage

• In some legal systems, a cognovit judgment can expedite the collection process for creditors. It is important for debtors to understand that signing a cognovit can lead to immediate legal consequences.

Word Variants

• There are no direct variants of "cognovit judgment," but it can be part of phrases like "cognovit agreement" (the written confession) or "cognovit clause" (a part of a contract allowing for such a judgment).

Different Meanings

• In general, "cognovit" itself comes from Latin, meaning "he/she/it has acknowledged." In legal English, it focuses on acknowledging debt.

Synonyms

• There aren't many direct synonyms for "cognovit judgment," but you might encounter terms like:
  • Summary judgment (another kind of legal judgment that does not require a full trial)
  • Default judgment (when a judgment is made because one party fails to respond)

Related Idioms and Phrasal Verbs

• While there are no direct idioms or phrasal verbs related to "cognovit judgment," you might hear phrases like:
  • "Admit defeat" (to acknowledge that one cannot succeed in a situation)
  • "Throw in the towel" (to give up, often used in a more general context)

Summary

In summary, a cognovit judgment is a legal decision made when a debtor admits they owe money, allowing quick resolution without going to a full trial. It is important for anyone involved in financial agreements to understand the implications of signing such a document.

Academic

Noun

1. a judgment entered after a written confession by the debtor without the expense of ordinary legal proceedings

Synonyms

• confession of judgment
• confession of judgement
• cognovit judgment