When Two Conflicting Security Interests Are Unperfected, the Last to Attach

question 42

True/False

When two conflicting security interests are unperfected, the last to attach has priority.

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Definitions:

Market Failure

Situations where the allocation of goods and services by a free market is not efficient, often requiring government intervention.

Negative Externality

Occurs when the production or consumption of a good or service imposes costs on third parties who are not involved in the transaction.

Marginal Cost

The financial impact of producing one more unit of a product or service.

Marginal Social Cost

The additional cost incurred by society as a whole due to the production of one more unit of a good or service.