confession of judgment legal definition

noun

1. A person or entityÂ’s voluntary agreement to the entry against them of a judgment in favor of another person or entity upon the occurrence or nonoccurrence of an event without the cost, formality, or time of a legal action or the presentation of a defense in court. Also called cognovit judgment.
2. A judgment taken against a defendant by a plaintiff pursuant to such an agreement, especially if the defendant owes money to the plaintiff at the time the agreement was made, and the event that allows the plaintiff to enter the judgment is the defendantÂ’s failure to pay the amount owed or a portion thereof on time. Also called cognovit judgment.
3. The document wherein a defendant made such an agreement before the judgment was entered.