Which of the Following Is True of Priority of Claims

question 49

Multiple Choice

Which of the following is true of priority of claims?

• A)If two or more secured parties claim an interest in the same collateral but only one has perfected his or her security interest, the perfected security interest has priority.
• B)Although one of the parties to claim an interest in the collateral has perfected his or her security interest, all the parties are given fair and equal priority.
• C)If two or more secured parties claim an interest in the same collateral but neither has a perfected claim, they are given equal priority irrespective of attachments.
• D)If two or more secured parties claim an interest in the same collateral but neither has a perfected claim, the first to claim has priority.

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