perfect

(redirected from perfectness)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.

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 ?
Reexamination of the Perfectness Concept for Equilibrium Points in Extensive Games.
Kallis further said that Australian legend Shane Warne was the best spinner that he played against because of his accuracy and the perfectness of his leg-spinning.
Conceivably it's a yearning for the nostalgia of yesteryear, a push back against the perfectness of modern photography.
Islam does not force any person other than few obligatory acts of worship however an individual is a reflection of the society therefore Islam stress upon the complete perfectness of human being in affairs.
They attributed this perfectness to their continual use of English with English native speakers in authentic situations.
He says the followers, a group of several dozen people, along with numerous "unattached" visitors, besides collective prayers learn meditation and yoga, endeavoring to reach spiritual perfectness.