Which of the Following Has the Highest Priority of Claim

question 74

Multiple Choice

Which of the following has the highest priority of claim?

• A) the first party to secure the interest
• B) the first party to attach the interest
• C) the first party to perfect the interest
• D) the first party to file a financing statement

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Definitions:

Conformance

The act of matching or complying with certain standards, rules, or norms, often to meet requirements or maintain quality and consistency.

Service Characteristics

Service Characteristics are features that differentiate services from goods, including intangibility, inseparability, variability, and perishability.

Intangible

Lacking physical substance, often referring to things that cannot be touched but have value, like brand reputation or intellectual property.

Labor Intensive

Industries or processes that require a large amount of manual labor compared to the amount of capital used or investment in machinery.