A more thorough explanation:

A cognovit clause is a provision in a contract where a debtor agrees to certain conditions in case of a default or breach. This includes agreeing to jurisdiction in specific courts, waiving notice requirements, and authorizing the entry of an adverse judgment.

For example, let's say John borrows money from a bank and signs a contract with a cognovit clause. If John fails to make his payments, the bank can take legal action without giving him notice or going through a lengthy court process. The cognovit clause allows the bank to enter a judgment against John without him having a chance to defend himself.

However, cognovit clauses are not legal in all states or are restricted in their use. This is because they can be seen as unfair to the debtor, who may not fully understand the consequences of signing such a clause.