Priorities Flashcards
Unperfected Secured Party v. Unperfected Secured Party
first to attach wins
Perfected Secured Party v. Unperfected Secured Party
perfected secured party wins
Perfected Secured Party v. Perfected Secured Party
depends on when the security interest was filed or perfected. Whichever was earlier wins.
Where two security interests are secured in the same investment property, which wins?
the first to be filed.
Security interest perfected by control v. perfected by filing or automatic perfection
perfection by control
PMSIs enjoy . . .
superpriority over all previously perfected security interests.
Unperfected Secured Party v. Buyer or Lessee
buyer/lessee has superior interest to an unperfected secured party IF the buyer/lessee gives value and receives delivery of the collateral without knowledge of the security interest.
Perfected Secured Party v. Buyer/Lessee
perfected secured party wins.
Secured Party v. Holder in Due Course
holder in due course of a negotiable instrument > secured party in negotiable instrument.
Secured Party v. Transferee of Money or Deposit Account Funds
if a debtor transfers money or deposit account funds to a person, that person takes free of any security interest in the money or funds, unless the transferee acts in collusion with the debtor in violating the rights of the secured party
Unperfected Secured Party v. Judicial Lien Creditor
judicial lien creditor wins IF creditor becomes such before the security interest is perfected.
Perfected Secured Party v. Judicial Lien Creditor
perfected secured party wins
Secured Party v. Possessory Lien Holder
a possessory lien imposed by other state law in favor of those who supply goods or services has priority over a security interest as long as the goods or services we’re provided in the ordinary course of business and the collateral remains in the lien holder’s possession.
What is the combination of letters which shows the priority of persons holding a security interest in property?
BHTCPAPPPUD
