Which of the Following Is True of Priority of Claims

question 48

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 over the collateral.
• 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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Definitions:

Fear Of Strangers

an anxiety disorder characterized by an intense fear or apprehension when one is around or anticipates interaction with strangers.

Separation Anxiety

Emotional distress seen in individuals, especially children, due to being separated from familiar people or environments.

Distress

A negative emotional state caused by stress, characterized by feelings of anxiety, sorrow, or pain.

Separation Anxiety

a disorder characterized by excessive anxiety regarding separation from home or from those to whom the individual has a strong emotional attachment.