Cognovit Clause
Definition of "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
Timber in an original form, such as a pole. ...
Member of a partnership whose liability for partnership debts is limited to the amount invested in the partnership. A limited partner is prohibited from taking active part in the management ...
Estimated value of property after a specified time period. ...
Measure of land representing one square mile. A section equals 640 acres. ...
mortgage being reduced through periodic principal and interest payments. ...
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See historic structure. ...
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