Priority: PMSI

Question 1

PMSI vs. Non-PMSI

Answer 1

PMSI has priority

Question 2

PMSI Super-Priority for Goods Other Than Inventory or Livestock

Answer 2

PMSI takes priority over all other SIs if the secured party perfects within 20 DAYS of debtor receiving goods

Question 3

PMSI Super-Priority for Inventory

Answer 3

PMSI has priority if secured party:

(1) PERFECTS BEFORE debtor receives POSSESSION OF THE COLLATERAL; and
(2) Sends AUTHENTICATED NOTIFICATION of PMSI to other secured parties

Question 4

PMSI Super-Priority in Proceeds

Answer 4

If PMSI has priority over a competing secured party in goods other than inventory, then that super priority WILL EXTEND TO THE PROCEEDS OF THE COLLATERAL

Question 5

PMSIs vs. PMSIs

Answer 5

SELLER PMSI has priority over lender PMSI

Otherwise, FIRST TO FILE OR PERFECT has priority