perfect

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perfect

(pronounced with the emphasis on the second syllable, not the first) To complete all steps necessary to establish a security interest in property that will take priority over later lenders. As between a lender and a borrower, a mortgage is effective and enforceable even if it is never recorded in the real estate records. If a third party, such as another lender, loans money to the debtor and records its own mortgage, then the second lender will have first rights in the property. The recordation of the mortgage, or of a UCC-1 for personal property, is called perfecting a security interest.Note:The UCC-1 is named for the Uniform Commercial Code form used to record notice of a security interest in personal property.

References in periodicals archive ?
I then explore how this idea complicates Godwin's definitions of institution and his attempt to refound anarchism on the "rational" basis of perfectibility.
The reverse of secular humanism is the notion of the earthly human perfectibility which leads to Clara's inhuman face and sterile body and eviscerates meaning not only from life, but from death also.
One of the poem's central themes concerns what Warren sees as a recurrent problem in American history, or what he calls "the symbolic implication of the event for the Jeffersonian notion of the perfectibility of man and the good American notion of our inevitable righteousness in action and purity in motive" ("Foreword" 296).
In contradistinction to the Arcadian aspect, however, the emphasis in Utopian writing is very much on the future perfectibility of society rather than on past glories; while it may be based on a mythic vision, the Utopian aspiration is essentially an optimistic, forward-oriented, humanist one.
While conservatives cynically and pessimistically distrust human nature, liberals unrealistically and naively place their faith in human perfectibility.
In Rist's words: "a constant evolution, based on the belief of human perfectibility and motivated by the incessant search for well-being" (Rist, 2001, p.
Bush: Dreams of Perfectibility is a sharp critique of how America's post-September 11th foreign policy has increasingly taken on Faustian overtones.
The Myth of Sisyphus: Renaissance Theories of Human Perfectibility.
If Buddhists can be accused of being pessimistic, it is because they have given up on the perfectibility of persons.
Perfection recedes inexorably beyond reach as the decades bring new challenges, but faith in perfectibility and the process of pursuing it propels America forward and keeps fresh its founding principles.
Townsend discerns corresponding themes in American Protestantism: protest and the possibility of revolution, spiritual equality among all people, and human perfectibility.
Abjuring programmes of human perfectibility, he felt at ease with the marching, swaying and flickering of superhuman forces.