Cognovit Promissory Note

A cognovit note is a confession of judgment given to a plaintiff, agreeing to pay a certain sum. The defendant acknowledges the claims asserted by a plaintiff against him in a complaint are valid and waives all defenses. It is usually given to avoid the expenses of protracted litigation. Laws relating to cognovit notes vary by jurisdiction, and are disallowed in some jurisdictions. Some cognovit notes are enforced by filing an action in court to enforce payment of money, however some contain terms allowing it to be enforced in a method other than by action of court upon a hearing and after personal service upon the debtor.