Priority

Question 1

Secured party vs. Secured party (both perfected)

Answer 1

first to file OR perfect, whichever first, has priority

Question 2

Secured party vs. Secured party (neither perfected)

Answer 2

first to attach has priority

Question 3

Special rule for PMSI other than inventory or livestock (usually equipment)

Answer 3

PMSI has priority over conflicting sec int in same goods or its proceeds IF PMSI PERFECTED at time debtor received possession of 20 days after