Debt Financing Inc. and Equity Lending Company are secured parties with perfected security interests in property owned by Fleet Shipping Inc. Priority between these security interests is generally determined by
A) the amount of the claim.
B) the custom in the trade.
C) the time of perfection.
D) the "float" of the liens.

Question

Quizplus · Accepted Answer

Priority between perfected security interests is generally determined by the time of perfection, meaning the first to perfect has priority.