A Perfected Security Interest Has Priority Over

question 77

Multiple Choice

A perfected security interest has priority over:

• A) only an unperfected security interest.
• B) only a lien creditor who acquires a lien after perfection.
• C) a previously filed security interest.
• D) both an inperfected security interest and a lien creditor who acquires a lien after perfection.

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Definitions:

Material

Physical substances or components used in the production of goods or in the construction of projects.

Informative

Characterized by providing useful or interesting information.

Sole Proprietorship

A business structure in which one individual owns and operates the business, responsible for all its debts and liabilities.

State Tax Registration

The process by which a business or individual registers with a state authority to collect, report, and remit taxes as required by law.