Olive Borrows from Polo and Quennell,using the Same Collateral for Both

question 17

Multiple Choice

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

• A)Olive.
• B)Polo and Quennell,in proportion to Olive's debt to each.
• C)Polo.
• D)Quennell.

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Definitions:

Simple Cuboidal

A type of epithelial tissue that is made up of single-layered cube-shaped cells, often found lining glands and ducts.

Internal Organs

Organs located within the main cavities of the body, involved in various essential physiological processes.

Smooth Muscle

A type of muscle tissue which is found in the walls of organs, such as the stomach, and is involved in involuntary movements.

Abrasion-Resistant

Refers to materials or surfaces that are designed to withstand wear, scraping, or rubbing that may cause erosion.