If Both First Bank and Second Bank Had Properly Perfected

question 90

Multiple Choice

If both First Bank and Second Bank had properly perfected their security interest,which creditor's interest would take priority?

• A)First Bank,because in a dispute between two secured but unperfected creditors,the party who attached first takes priority.
• B)First Bank,because in a dispute between two secured and perfected creditors,the party who perfected first takes priority.
• C)The two banks will have equal rights to the property.
• D)First Bank,because in a dispute between a secured perfected creditor and a secured unperfected creditor,the secured perfected creditor takes priority.
• E)Second Bank,because "after-acquired property" is not specific enough to grant attachment right to First Bank,and,thus,the secured agreement of Second Bank takes priority.

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Definitions:

Local Optimum Solution

A solution to an optimization problem that is better than or equal to all nearby solutions but not necessarily the best overall, or global, solution.

Nonlinear Optimization Models

Mathematical models where the objective function or any of the constraints are nonlinear, used for solving complex real-world problems.

Emergency Rooms

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General Integer Variables

Variables in mathematical models that can take only integer values, often used in optimization problems.