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Pleading guilty means you admit that you committed the crime. Pleading no contest (“nolo contendere”) means accepting the conviction but avoiding a factual admission of guilt.
Pleading not guilty means that you say you didn't do the crime. Or that you did, but you had an excuse which the law recognises as a defence. The court will then have a trial to decide whether you're guilty. If the court decides that you are guilty, you'll be convicted. The court will decide what sentence to give you.
A plea of nolo contendre (latin for “I am unwilling to contest”) is a plea recognized in US law, but does not have any foundation in Canadian criminal law. It is prohibited by virtue of s. 606(1) which lists all valid pleas. A guilty plea that in substance amounts to a plea of nolo contendre will be invalid.
No Admission of Guilt: The lack of an admission of guilt allows the defendant to maintain a certain level of denial regarding the crime in other legal or personal contexts, which can be crucial for their reputation.
A defendant may, however, also enter a plea of nolo contendere or “no contest.” Such pleas are permitted under Florida law, provided the trial judge agrees to accept it.
The American justice system is based on English common law. Nolo contendere, too, comes from this English legal foundation. This plea of “no contest” essentially worked the same way then that it does now: a defendant has the right to accept punishment without admitting guilt.
Pleading guilty means you admit that you committed the crime. Pleading no contest (“nolo contendere”) means accepting the conviction but avoiding a factual admission of guilt.