Gluco Inc is a large producer of pharmaceuticals.It enters into an agreement to supply Discount Drugs Inc,which operates a chain of drug stores in British Columbia,with its products.In its agreement with Discount,Discount gives Gluco a security interest in the drugs supplied until they are paid for.On July 1,2010,Gluco filed a financing statement to register this interest under the British Columbia Personal Property Security Act.Previously,on May 1,2010,Discount had given a security interest in all of its present and after-acquired property to Baker Bank,including inventory.The bank filed a financing statement to register its interest under the British Columbia Personal Property Security Act on May 1,2010.Gluco's security interest has priority over the Bank's because it is a purchase money security interest.

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The Answer of Gluco Inc is a large producer of pharmaceuticals.It enters into an agreement to supply Discount Drugs Inc,which operates a chain of drug stores in British Columbia,with its products.In its agreement with Discount,Discount gives Gluco a security interest in the drugs supplied until they are paid for.On July 1,2010,Gluco filed a financing statement to register this interest under the British Columbia Personal Property Security Act.Previously,on May 1,2010,Discount had given a security interest in all of its present and after-acquired property to Baker Bank,including inventory.The bank filed a financing statement to register its interest under the British Columbia Personal Property Security Act on May 1,2010.Gluco's security interest has priority over the Bank's because it is a purchase money security interest.

Gluco Inc Is a Large Producer of Pharmaceuticals