Lena Borrows from Mac and Nicol,using the Same Collateral for Both

question 69

Multiple Choice

Lena borrows from Mac and Nicol,using the same collateral for both loans. Only Nicol has a perfected security interest. Lena defaults on both loans. The party with first rights to the collateral is

• A)Lena.
• B)Mac and Nicol,in proportion to Lena's debt to each.
• C)Mac only.
• D)Nicol only.

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