confession of judgment is a clause in a loan contract providing that the borrower waives the right to be notified and the right to be heard in court if the lender brings suit and obtains a judgment against the borrower in the event of a default. This credit practice was prohibited by regulation in 1985.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). confession of judgment. Retrieved September 24, 2026, from http://smartdefine.org/confession_of_judgment/definitions/1150495 |
| Chicago | Barry Goldsmith. 2010. "confession of judgment" http://smartdefine.org/confession_of_judgment/definitions/1150495 (accessed September 24, 2026). |
| Harvard | Barry Goldsmith 2010, confession of judgment, Smart Define, viewed 24 September, 2026, <http://smartdefine.org/confession_of_judgment/definitions/1150495>. |
| MLA | Barry Goldsmith. "confession of judgment" 21 October 2010. Web. 24 September 2026. <http://smartdefine.org/confession_of_judgment/definitions/1150495> |