If Two Conflicting Security Interests Are Unperfected,neither Interest Has Priority

question 2

True/False

If two conflicting security interests are unperfected,neither interest has priority.

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Definitions:

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in similar circumstances, leading to harm or damage.

Damages

Compensation claimed by a person who has suffered loss or harm due to the wrongful act of another.

Dry-Cleaning Chemicals

These are the chemicals used in the process of dry cleaning, which is a method of cleaning clothes and textiles using a solvent other than water.

Nominal Damages

A symbolic small amount of money awarded in court to recognize that a legal wrong has occurred, without the plaintiff having suffered significant loss.