A few weeks back I picked up a 1960 copy of General Theory of Functions and Integration by Taylor at a half price bookstore.
I started reading this and got up to the definition of completeness of an ordered field which they defined as follows (paraphrasing)
Divide your ordered field into an upper and lower partition $(L,R)$ via some inequality. An ordered field is complete iff for all possible partitions, either $L$ has a maximum or $R$ has a minimum
Now I was used to the definition
An ordered field is complete iff every bounded subset $S$ has a least upper bound and greatest lower bound.
Going off memory I might have phrased that wrong, but I know these two statements are equivalent. However my question is when proving completeness for the first time, what is the correct definition to use?
Of course your second definition is more useful in our daily work and gives quick results in situations coming up hundreds of times. But it involves "all subsets of ${\mathbb R}$", and this is indeed a large community of objects. For an axiom one would like simpler setups. That's what your first definition does; it just talks about splittings of ${\mathbb R}$ into a lower and an upper part: Any such splitting hits a unique number (which then can belong to the lower or the upper part).