Priorities Flashcards

1
Q

Perfected v. Unperfected

A

A perfected security interest has priority over a a conflicting unperfected security interest in the same collateral.

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2
Q

Unperfected v. Unperfected

A

Two competing unperfected security interests, the first to attach will prevail.

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3
Q

Perfected v. Perfected

A

“First in time, First in right”
The first creditor to perfect has priority.

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4
Q

Judgment Lien Creditors

A

Have priority over conflicting security interests if person became lien creditor before conflicting security interest was perfect.

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