8.01-432 - Confession of judgment irrespective of suit pending. - Virginia Statutes

§ 8.01-432. Confession of judgment irrespective of suit pending.

Any person being indebted to another person, or any attorney-in-fact pursuantto a power of attorney, may at any time confess judgment in the clerk'soffice of any circuit court in this Commonwealth, whether a suit, motion oraction be pending therefor or not, for only such principal and interest ashis creditor may be willing to accept a judgment for, which judgment, when soconfessed, shall be forthwith entered of record by the clerk in whose officeit is confessed, in the proper order book of his court. Such judgment shallbe as final and as binding as though confessed in open court or rendered bythe court, subject to the control of the court in the clerk's office of whichthe same shall have been confessed.

(Code 1950, § 8-356; 1977, c. 617.)