Generally,if Two Creditors Have Perfected Security Interests in the Same

question 59

Multiple Choice

Generally,if two creditors have perfected security interests in the same collateral,only one of which is a purchase money security interest,which has the superior right (priority) ,assuming all notice is properly given within the appropriate time periods?

• A) the first to perfect
• B) the first to attach
• C) the purchase money security interest
• D) they have equal priority

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Definitions:

Debt Security

Debt security is a financial instrument representing a loan made by an investor to a borrower, typically corporate or governmental, where the borrower promises to return the principal and pay periodic interest payments.

Fixed Stream

A series of fixed payments over a period of time, such as those from bonds or annuities.

Variable Level

Refers to an attribute or factor that can change in value over time or across different situations.

Specified Formula

A precisely defined mathematical equation or method used to solve a problem or determine an outcome.