Bar Exam Priority Rules (The Fight) Flashcards
Master 15 priority rules (the fight) concepts for the Bar Exam.
General Priority Rules
5 cardsQuestion
Between two perfected security interests, which has priority?
Question
Between two unperfected security interests, which has priority?
PMSI Super-Priorities
4 cardsQuestion
How is a purchase money security interest (PMSI) defined?
Question
To obtain super-priority for a PMSI in inventory, what requirements must be met?
Specific Asset Priorities
6 cardsQuestion
What is a fixture filing, and when is it required to obtain priority over a real property interest?
Question
How does a security interest in an accession obtain priority?
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