confession of judgment การใช้

Confessions of judgment are permitted in many states.
The lender could no longer receive power of attorney or confession of judgment over a customer.
Consequently a transfer of property, or a confession of judgment, by an insolvent husband to his wife, in settlement of her claims, is good against his creditors.
Trapped, Danforth had to accept Green's harsh terms and signed a " confession of judgment " and a bond for $ 6, 000 which was about twice what he believed he owed to Green.
A typical confession of judgment reads, " The undersigned irrevocably authorizes any attorney to appear in any court of competent jurisdiction and confess a judgment without process in favor of the creditor for such amount as may then appear unpaid hereon, and to consent to immediate execution upon such judgment ."