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LSDefine
Simple English definitions for legal terms
perfect instrument
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A quick definition of perfect instrument:
A perfect instrument is a legal document that defines rights, duties, entitlements, or liabilities. It can be a contract, will, promissory note, or share certificate. It is considered perfect when it is executed and filed with a public registry. An instrument can also be a means by which something is achieved, performed, or furthered. For example, it can be an instrument of social equality.
A more thorough explanation:
A perfect instrument is a legal document that has been executed and filed with a public registry. It defines rights, duties, entitlements, or liabilities and is used to achieve, perform, or further something.
- A deed to a property is a perfect instrument because it is a legal document that defines the rights and ownership of the property and is filed with a public registry.
- A mortgage is also a perfect instrument because it is a legal document that defines the rights and obligations of the borrower and lender and is filed with a public registry.
These examples illustrate how a perfect instrument is a legal document that is executed and filed with a public registry to define and protect rights and obligations related to property ownership and financial transactions.