Perfections
/pərˈfɛkʃənz/
Definitions
- (n.) Plur. of perfection; in secured transactions law, refers to the steps taken to enforce or establish the priority of a security interest in collateral.
The lender completed the perfections required to secure its claim on the debtor's assets.
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Commentary
In legal contexts, 'perfections' is primarily used as the plural of 'perfection' relating to security interests; treat it as a plural noun rather than a distinct concept.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.