If two creditors have a security interest in the same collateral, their priority is determined according to the "last in-first out" provision.

Question

Quizplus · Accepted Answer

The "last in-first out" provision is not used to determine priority between creditors with conflicting security interests. Instead, priority is generally determined by the order in which the security interests were created or perfected.

If Two Creditors Have a Security Interest in the Same