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perfect adj

: entirely without fault or defect: as
a : satisfying all requirements [failed to make tender]
b : free from any valid legal objection
: valid and effective at law [having title to the property] compare imperfect
[pər-fekt] vt : to complete or put in final conformity with the law: as
a : to make (an appeal) ready for transfer to an appeals court by satisfying procedural requirements
b : to put (one's security interest) in a position or status having priority over subsequently perfected security interests or unperfected security interests by taking statutorily prescribed steps to give notice esp. by filing a financing statement or taking possession of the collateral [was the first creditor to its security interest in the debtor's collateral, and, thus, was the first in priority for the collateral "Commercial Bank v. Pride Furniture, Inc. , 877 P.2d 1222 (1994)"] compare attach
: to make something (as a security interest) complete, in conformity with the law, or valid against third-party claims
per·fec·tion [pər-fek-shən]

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.