Ad lucrandum vel perdendun

What does Ad lucrandum vel perdendun mean in American Law?

The definition of Ad lucrandum vel perdendun in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

“For profit or loss,” a phrase emphasizing the wide scope of power granted in old powers of attorney, especially those enabling the appointed party to confess judgment against the grantor (which were usually called “warrants of attorney” and are now usually described as powers of attorney to confess judgment and are

contained in cognovit notes).