Examlex
Which of these gained independence from Spain in the 1570s?
Perfect
To complete or make flawless, often used in legal terms to describe the act of finalizing a security interest in accordance with the law.
Security Interest
A legal claim or lien on collateral that gives a lender the right to repossession if the borrower defaults on obligations.
Default
Failing to fulfill a legal obligation or agreement, particularly the failure to repay a loan as agreed with a lender.
Perfection
In legal and financial terminology, it refers to the necessary steps taken to secure rights or interests in collateral against third parties.
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