Cognovit Clause
Provision in a loan agreement where a debtor authorizes a judgment against him in the event of a default. These agreements are widely restricted, but when they are lawful, the creditor is empowered to appear in court and enter judgment against the debtor.
Popular Real Estate Terms
The term’s balance sheet definition can be described as a financial statement that a company uses to report its liabilities, assets, and shareholders’ equity at a given time. A ...
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