On April 27, 2009, the United States Supreme Court granted certiorari on two of three questions presented for review from the decision by the United States Court of Appeals for the Third Circuit in Schwab v. Reilly. Below, the Third Circuit affirmed the district court's decision, which held that when the values on a debtor’s list of assets and on her claim of exemptions are equal, a Chapter 7 Trustee must object to a debtor’s claim of exempt property within 30 days in order to retain his statutory authority to later sell property for the benefit of creditors.

To comply with R.C. 2323.13(D), a cognvoit note must include the statutorily-required warning language "in such type size or distinctive marking" that it is "more clear[ ] and conspicuous[ ] than anything else on the document." However, in creating a warning that appears more clearly and conspicuously than anything else, courts have recognized that a drafter of a cognovit note may employ multiple methods--capitalization, italicization, underlining, bolding, framing the warning with a border, or a distinctive type style.