Priority

Question 1

Unperfected v. Unperfected

Answer 1

First to attach has priority.

Question 2

Perfected v. Unperfected

Answer 2

A perfected security interest has priority over any unperfected security interest.

Question 3

Perfected v. Perfected

Answer 3

1st to file or perfect has priority UNLESS one has Super-Priority

Question 4

Perfected v. PMSI

Answer 4

Secured party with PMSI in NON-INVENTORY will have priority over earlier filed interest, if perfected BEFORE or WITHIN 20 DAYS AFTER the debtor receives possession of collateral.

Question 5

PMSI is in INVENTORY

Answer 5

If PMSI is in inventory to get priority, BEFORE debtor recieves possession, the PMSI party MUST BOTH: give written, signed notice to secured parties of record describing collateral AND must file

failure of these things results in PMSI becoming junior.

Question 6

PMSI v. PMSI

Answer 6

PMSI seller has priority over PMSI lender

Otherwise

First to file