When Two Creditors Have a Security Interest in the Same

question 36

Multiple Choice

When two creditors have a security interest in the same collateral,which party takes priority?

• A)The first unperfected party to attach
• B)A party with an unperfected interest
• C)A party with a perfected interest
• D)The first perfected party to sue

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Definitions:

CPI

The Consumer Price Index is an indicator that calculates the weighted average price of a selection of consumer goods and services, including food, medical care, and transportation.

Real Wages

The purchasing power of wages, taking into account inflation, reflecting the amount of goods and services that can be bought with the wages earned.

Minimum Wage

The lowest legally allowable pay per hour for workers.

Real Wage Rate

The purchasing power of wages when adjusted for inflation, indicating the quantity of goods and services that can be bought.