This pamphlet provides an overview on the use of a confessed judgment clause in contracts. Topics covered include how to draft a confession of judgment clause, as well as how to enforce it.
Alabama USLegal Pamphlet on Confession of Judgment
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US-PMPH-11
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FAQ
Basic Procedure: A confession of judgment is a written statement, signed and verified by the defendant under oath. It must be accompanied by an independent attorney's declaration. The papers are submitted to the clerk of the court for entry; the court then places its imprimatur on it.
In the example: "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.", there is an unlimited risk ...
What Is a Confession of Judgment? A confession of judgment is a written agreement, signed by the defendant, that accepts the liability and amount of damages that was agreed on. A confession of judgment is a way to circumvent normal court proceedings and avoid a lengthy legal process to resolve a dispute.
What happens after a confession of judgment? After you have signed a confession of judgment, there may be no effect at all, particularly if you make all your debt payments on time. But if you default on your loan and the lender decides to pursue a judgment, you may lose your assets, receivables or even your business.
All agreements, contracts, or stipulations to confess judgment in any of the courts of this state, to be sued in any county other than that fixed by the venue statutes of this state, or to authorize another to confess judgment in any of the courts of this state made before the commencement of the action in which such ...
Such a provision might state, for example: ?I hereby acknowledge myself to be justly indebted to, and do hereby confess judgment in favor of [the creditor] in the sum of [a specified dollar amount].? The debtor then signs the document, thereby waiving its right to notice of the judgment, as well as its right to assert ...
