If One Party's Security Interest Attached in March,but Has Not

question 94

Multiple Choice

If one party's security interest attached in March,but has not been perfected,and another creditor's security interest attached and perfected in April,which of the following is true as of the following December?

• A) The security interests have equal priority.
• B) The security interest that attached in March has priority.
• C) The security interest that attached in March has priority,but only if it became perfected prior to the other creditor bringing an action on the collateral.
• D) The security interest that was perfected in April has priority.

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Definitions:

Synapse

The junction between two neurons or between a neuron and a muscle where communication occurs through neurotransmitter release.

Chloride Channels

Chloride channels are membrane proteins that allow the passive movement of chloride ions across cell membranes, influencing various physiological processes.

Sodium Channels

Integral membrane proteins that allow sodium ions to pass through the cell membrane, essential for the generation and transmission of electrical signals in neurons and muscle cells.