A is an unsecured creditor in a loan agreement dated January 1,2010.
B is a secured creditor in an unregistered chattel mortgage dated January 2,2010.
C is a secured creditor in a registered chattel mortgage dated January 3,2010 and registered on January 13,2010.
D is a secured creditor in a registered chattel mortgage dated January 4,2010 and registered on January 12,2010.
E is a secured creditor in a registered chattel mortgage dated and registered on January 5,2010.
Which of the following creditors has the highest priority?

Question

Quizplus · Accepted Answer

E has the highest priority because their chattel mortgage was both dated and registered first among the secured creditors. Registration date is crucial for determining priority among secured creditors.

A Is an Unsecured Creditor in a Loan Agreement Dated