KS Bar Practice Questions - Kansas Bar Examination Exam

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A creditor with an unperfected security interest competes with a later creditor who properly perfects by filing a financing statement. Under UCC Article 9 priority rules, who generally has priority?

The unperfected creditor, because its interest arose first The perfected creditor, because a perfected security interest generally has priority over an unperfected one Neither, because both interests are void They share priority pro rata

Correct Answer:

The perfected creditor, because a perfected security interest generally has priority over an unperfected one

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