Confession of Judgment

• Confession of Judgment Key Loan Provision

Every commercial loan made by a bank or other financial institution includes a promissory note which is the borrower's "promise" to pay back the loan....

• Mondaq Business Briefing
• United States Law Articles in English

• Confession of Judgment Key Loan Provision.

Every commercial loan made by a bank or other financial institution includes a promissory note which is the borrower's "promise" to pay back the loan....

• Mondaq Business Briefing
• Nbr. 2011, January 2011

• First Fed. Bank of the Midwest v. Laskey, (Ohio 2011)

promissory notes, guarantees and mortgages; executory accord; confession of judgment; settlement agreement; foreclosure; notice of a sheriff's sale to the judgment debtors.

• Ohio Supreme Court

• Md Csa Upholds Confession of Judgment Against Claim That Debt Was a Penalty

The owner of two popular Washington D.C. nightclubs has been ordered to pay $150,000 in late fees to the woman who sold him his Montgomery County home. Abdul Khanu, who owns the clubs Platinum and H20, claimed the amount was an unenforceable penalty on $3 million in loans from the sellers of his $5 million Potomac residence.

• The Daily Record (Baltimore)
• December 14, 2006

• Confession of Judgment

A procedure whereby a defendant did not enter a plea, the usual response to a plaintiff's declaration in ...

• West's Encyclopedia of American Law
• Com–Dor

• Dobrzanski Spared Jail in Theft of $144,000

Theresa Dobrzanski, a former retirement benefits analyst who has admitted embezzling $144,000 from Delaware North Cos., was ordered Tuesday to make $160-a-month restitution payments for the next 10 years beginning Dec. 1 but spared a jail term by Erie County Judge Michael F. Pietruszka. Dobrzanski, 37, who has already repaid $68,452.92 of the $144,392.71 she stole before being fired in January, told the judge she hopes to be able some day to fully repay the company under the confession of judgment she signed when she pleaded guilty to grand larceny June 11.

• Buffalo News
• November 09, 2010

• Confessions of an Illinois judgment: as more loans go bad, banks looking for better ways to collect from defaulting borrowers are turning to judgments by confession. The author explains how they work and argues they typically can be enforced as soon as they're entered, with no notice to the debtor.

[ILLUSTRATION OMITTED] Judgments by confession are becoming more and more popular, yet when and how they can be enforced is disputed by attorneys, j...

• Illinois Bar Journal
• Vol. 98 Nbr. 11, November 2010

• Merchants Bank & Trust Co. v. Five Star Fin. Corp., (Ohio 2011)

DEBTOR/CREDITOR – CIVIL MISCELLANEOUS – APPELLATE REVIEW/CIVIL: An instrument containing a warrant of attorney is not facially invalid because the defendant’s indebtedness at the time of the confession of judgment requires reference to extrinsic documents. Challenges to personal jurisdiction are waived when they are not properly raised before the trial court.

• Ohio Supreme Court

• Pair Try Again to Enter $1m Claim Against Westgate

Two Rockland County women plan to appeal a judge's decision to throw out the basis of a lien they had placed on a Southampton estate bought by a Saddle River hedge-fund manager accused of running a Ponzi scheme. A New York State judge last month threw out a claim by Ann and Doris Cole-Hatchard that would have given the two investors of the now-defunct Westgate Capital Management LLC nearly $1 million. They had secured an agreement by James Nicholson, Westgate's former president, saying they were owed $931,724. They used the agreement, called a "confession of judgment," to secure a lien in that amount against a $27 million Southampton estate Nicholson purchased in late 2008. Nicholson was arrested in late February.

• The Record, Bergen County, NJ
• October 12, 2009

• Fifth Third Bank, N.A. v. Maple Leaf Expansion, Inc., (Ohio 2010)

Pennsylvania court had subject matter jurisdiction to provide a ruling on a confession of judgment. Choice of law, conflict of laws, and the specific facts or a case are considered after, and do not affect, the threshold issue of subject matter jurisdiction.

• Ohio Supreme Court