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#6. Lloyd borrows money from Collin. In exchange for the loan, Lloyd orally offers Collin a security interest in his boat. The next day, Lloyd

#6. Lloyd borrows money from Collin. In exchange for the loan, Lloyd orally offers Collin a security interest in his boat. The next day, Lloyd offers Matilda a signed written security interest in the same boar in exchange for a loan. Neither Collin nor Matilda properly protects the secuirty interest. Lloyd defaults on both loans. Who will receive the boat? Why?

(short answer question)

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