Wedney,Inc

question 44

Multiple Choice

Wedney,Inc.has a purchase money security interest in one of Yoro Chicken's meat processing machines.Wedney filed a financing statement on the day the machine was delivered,perfecting its interest.Great State Bank already had a security interest in the machine.Which party has superior priority rights in the meat processing machine?

• A)Wedney.A PMSI in collateral other than inventory takes priority over a conflicting security interest if the PMSI is perfected at the time the debtor receives the collateral or within 20 days after he receives it.
• B)Great State Bank,since it had an earlier security interest.
• C)The party who is first to repossess the collateral has priority rights.
• D)The creditors have equal priority.