Natural Resource Investment Company and Mega Bank are secured parties with security interests in property owned by LNG Gas Corpora-tion. Between these interests,the first to be filed or perfected has priority over other filed or perfected security interests in
A)most circumstances.
B)no circumstances.
C)states that have not adopted Article 9 of the UCC.

Question

Quizplus · Accepted Answer

According to the first to file or perfect rule under Article 9 of the UCC, the secured party who files or perfects their interest first has priority over other parties with filed or perfected security interests. Therefore, in most circumstances, the first to be filed or perfected has priority over other filed or perfected security interests.

Natural Resource Investment Company and Mega Bank Are Secured Parties