Asked by Samantha Ortiz on Jul 05, 2024
Verified
When two conflicting security interests are unperfected, the last to attach has priority.
Conflicting Security Interests
A situation where multiple parties claim a security interest in the same collateral, potentially leading to disputes over priority and rights.
Unperfected
A term used in law to describe a security interest or claim that has not been formally established or completed according to legal requirements.
Priority
The status of being given more importance or attention before other things.
- Differentiate between secured and unsecured interests and understand their respective ranks.
Verified Answer
AB
Arnoldo BarredaJul 10, 2024
Final Answer :
False
Explanation :
When two conflicting security interests are unperfected, the first to attach has priority.
Learning Objectives
- Differentiate between secured and unsecured interests and understand their respective ranks.