Which of the following is true regarding priority in a dispute involving a purchase-money security interest in business goods other than inventory?
A) The purchase-money security interest has priority over any other secured perfected interests as long as the purchase-money security interest is perfected within 20 days of the debtor's possession of the collateral.
B) The purchase-money security interest has priority over any other secured perfected interests as long as the purchase-money security interest is perfected within 30 days of the debtor's possession of the collateral.
C) The purchase-money security interest has priority over any other secured perfected interests as long as the purchase-money security interest is perfected within 40 days of the debtor's possession of the collateral.
D) The purchase-money security interest has priority over any other secured perfected interests as long as the purchase-money security interest is perfected within 45 days of the debtor's possession of the collateral.
E) The purchase-money security interest has priority over any other secured perfected interests as long as the purchase-money security interest is perfected within 60 days of the debtor's possession of the collateral.

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), a purchase-money security interest in non-inventory goods has priority over other security interests if it is perfected within 20 days of the debtor receiving possession of the collateral.

Which of the Following Is True Regarding Priority in a Dispute