Stanley Kubrick Demanding perfection


Perfection (law) - Concept



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Perfection (law) - Concept

  • As a legal concept, perfection must be distinguished from:

Perfection (law) - Concept

Perfection (law) - Concept

Perfection (law) - Concept

  • *priority, which is an ordering of competing security interests in same asset.

Perfection (law) - Concept

  • The same rule --- the common law rule in Dearle v Hall|rule in Dearle v Hall, for instance --- may govern both perfection against third parties (e.g., subsequent security holders) and prioritization of competing security interests.

Perfection (law) - Concept

  • In most legal systems, the need for perfection arises only in relation to security interests that are proprietary in nature (such as a mortgage law|mortgage or equitable charge). Other arrangements which constitute security in the loose sense of the word --- for instance, retention of title clause|title retention arrangements, hire purchase, and lease|leasing transactions --- need not in general be perfected in the legal sense.



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