Because a confessed judgment was in an amount larger than that provided for in the parties’ agreement, the court lacked jurisdiction to grant the confessed judgment. Therefore, it is void ab initio.
There is no dispute that the confessed judgment amount was erroneous because it was calculated incorrectly, and its value exceeded the amount agreed to in the Note. The attorney-in-fact confessed judgment in the amount of $117,500, with “interest thereon, and costs of the case, including attorney’s fees.” Thus, interest and attorney’s fees are not included within the $117,500 amount but instead should be added “thereon.” The confessed judgment improperly decrees interest upon interest and a double recovery of attorney’s fees, which the Note does not support. It was impossible for the defendant to owe the amount stated in the confessed judgment.
Since Code § 8.01-432 allows a debtor to confess only as much principal and interest as the creditor may accept a judgment for, the court did not have jurisdiction to accept the confessed judgment. It is void ab initio and the defendant could have moved to eradicate it at any time.
Defendant’s motion to vacate confessed judgment granted.