Credit Financing, Inc., and Equity Lending Company are secured parties with security interests in property owned by Fleet Shipping Corporation. Priority between these security interests is generally determined by

Question

Credit Financing, Inc., and Equity Lending Company are secured parties with security interests in property owned by Fleet Shipping Corporation. Priority between these security interests is generally determined by​

Quizplus · Accepted Answer

Priority between security interests is generally determined by the time of perfection or attachment. The first to file or perfect their security interest usually has priority over subsequent security interests.