Expert Capital Company and Frugal Financial Bank are secured parties with security interests in property owned by Grande Corporation.Between these security interests,the first to be filed or perfected has priority over other filed or perfected security interests in

Question

Quizplus · Accepted Answer

Generally, the first secured party to file or perfect their security interest has priority over other secured parties with later filings or perfected security interests, according to Article 9 of the Uniform Commercial Code (UCC). This rule applies in most circumstances, except for some specific exceptions outlined in the UCC. The other options presented (B, C, and D) are not correct as they do not accurately reflect the priority rules under the UCC.

Expert Capital Company and Frugal Financial Bank Are Secured Parties