NH Bar Practice Questions - New Hampshire Bar Examination (UBE) Exam

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Two creditors hold perfected security interests in the same collateral. Under the UCC Article 9 priority rules, priority among them is generally determined by:

The first to file or perfect (the first-in-time rule) The size of each creditor's loan The creditor with the closest relationship to the debtor Whichever creditor demands payment first

Correct Answer:

The first to file or perfect (the first-in-time rule)

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