noun
perfection
Completion of the formal requirements that protect a legal right against third-party claims.
The lawyer checks whether perfection of the security interest is complete.
Etymology
Latin perfectio means completion. Legal perfection is the completion of the steps that make a right effective against competing third-party claims.
More examples
- The filing was intended to achieve perfection.
- The dispute turned on the date of perfection.
- The course distinguishes attachment from perfection of a security interest.
Forms
perfection
Similar words
- legal completion
- A description of the process, not a technical substitute.