Indiana Code 24-4.5-2-415. Authorization to confess judgment prohibited
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Terms Used In Indiana Code 24-4.5-2-415
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
style=”font-size: 10pt”> Sec. 415. Authorization to Confess Judgment Prohibited – A buyer or lessee may not authorize any person to confess judgment on a claim arising out of a consumer credit sale or consumer lease. An authorization in violation of this section is void.
Formerly: Acts 1971, P.L.366, SEC.3.