When two or more parties have unperfected security interests in the same collateral,the first to attach prevails over the other parties.

Question

Quizplus · Accepted Answer

This is known as the "first to attach" rule, which means that the party who attaches first (by filing or perfecting their security interest) will have priority over later parties with unperfected security interests in the same collateral.

When Two or More Parties Have Unperfected Security Interests in the Same