First Federal had a perfected security interest in Vicor's printing press.Second Credit had a security interest in the same press,but its interest was not perfected.First Federal takes priority over Second Credit.

Question

Quizplus · Accepted Answer

Under the rule of perfection, a perfected security interest takes priority over an unperfected security interest. Therefore, First Federal, which had a perfected security interest in Vicor's printing press, would take priority over Second Credit, whose interest was not perfected.

First Federal Had a Perfected Security Interest in Vicor's Printing