2.5 pts A secured transaction general rule is Unsecured creditors have a priority over general creditors General creditors have a priority over secured creditors O A PMSI will never have a priority over a prior perfected security interest O a perfected security interest has a priority over an unperfected security interest Question 19 2.5 pts Ace Appliance store has granted a security interest in its inventory to the Mainland Bank, the creditor. The Bank perfected the security interest on July 1. Ace sold an item from the inventory to Linda on August 13 who took the item in good faith without knowledge of a claim or defense, for value and in the ordinary course of business. Ace later defaults. What is the result with respect to the collateral? The bank can repossess the item from Linda because Ace defaulted The bank cannot repossess the item from Linda The bank is without a remedy against Ace Ace is no longer llable on the debt owed