The FARs need to have the same provisions we have in the Canadian CARs, which tells the discoverer of a defect to record the defect in the Journey log before the next flight. The pilots are supposed to check that Log before flight to see if there were any snags as a result of a previous flight or maintenance action, and whether they were fixed. So you'd have to have not only the usual Airframe Engine and Propeller Logs, but you'd need the Journey Log as well. Every flight gets recorded in that log. Every defect that shows up during any part of a flight is supposed to get recorded there, and some are pilot-deferrable. Mechanics check back through the log to see if there are outstanding defects that need repair. The same rule requires any airworthiness defects found by a mechanic that the owner doesn't want repaired also be recorded in the logs. I used to record them in both the Journey Log and on the work reports and the owner had to sign the deferrals. Photocopies were kept. This protects the shop and mechanic in court should an accident occur or some naive buyer finds expensive problems and goes after the shop. Even then, there were things I refused to pass no matter what. I would not sign off an airplane with a cracked muffler, for instance. That's not a defect deferrable by anybody.