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.
2
Q
Unperfected v. Unperfected
A
Two competing unperfected security interests, the first to attach will prevail.
3
Q
Perfected v. Perfected
A
“First in time, First in right”
The first creditor to perfect has priority.
4
Q
Judgment Lien Creditors
A
Have priority over conflicting security interests if person became lien creditor before conflicting security interest was perfect.