Connecticut General Statutes 36a-775 – Confession of judgment provision invalid
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No provision for confession of judgment or power of attorney therefor, contained in any retail installment contract or installment loan contract or contained in a separate agreement relating thereto, shall be valid or enforceable.
Terms Used In Connecticut General Statutes 36a-775
- Contract: A legal written agreement that becomes binding when signed.
- Loan: includes any line of credit or other extension of credit. See Connecticut General Statutes 36a-2
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC