If one party's security interest attached in March,but has not been perfected,and another creditor's security interest attached and perfected in April,which of the following is true as of the following December?

Question

Quizplus · Accepted Answer

Under the general rule of first-to-perfect, the security interest that is perfected first takes priority over any subsequent security interests. In this case, the creditor's security interest that attached in March but was not perfected has inferior priority to the security interest that attached and was perfected in April. Therefore, the security interest that was perfected in April has priority.

If One Party's Security Interest Attached in March,but Has Not