When There Are Two Perfected Secured Creditors in the Same

question 21

Multiple Choice

When there are two perfected secured creditors in the same collateral: ______.

• A) priority goes to the creditor who perfected first.
• B) priority goes to the creditor who is owed the greatest amount of money.
• C) each perfected secured creditor has a 50% interest in the collateral.
• D) both perfected secured creditors are treated like unsecured creditors in regards to the collateral.

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Definitions:

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