Author Question: Under the UCC Secured Transaction Article, what is the order of priority for the following security ... (Read 68 times)

tsand2 · **on:** Jun 24, 2018

Under the UCC Secured Transaction Article, what is the order of priority for the following security interests in store equipment? I. Security interest in an air conditioner sold to a homeowner to replace an existing unit on the home's roof that was perfected by filing on April 15, 2014 II. A mortgage on that same home recorded on January 3, 2010 III. A purchase money security interest on new windows for the home that attached on April 11, 2009 and was perfected by filing on April 20, 2014
A) I, III, II
B) II, I, III
C) III, I, II
D) III, II, I

Question 2

Property that is subject to a security interest is called collateral.
Indicate whether the statement is true or false