When two parties have perfected security interests in the same collat?eral,neither party has priority.

Question

Quizplus · Accepted Answer

In cases where two parties have perfected security interests in the same collateral, priority is usually determined by the time of perfection. The party that perfected their interest first generally has priority over the other party. Exceptions to this rule may apply in some cases, such as if the parties agreed to a subordination arrangement or if one party has a purchase-money security interest.

When Two Parties Have Perfected Security Interests in the Same