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is this answer right? Seller has a purchase money security interest in one of Debtor's meat-processing machines. Seller filed a financing statement on the day
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Seller has a purchase money security interest in one of Debtor's meat-processing machines. Seller filed a financing statement on the day the machine was delivered, perfecting its interest. Bank One already had a security interest all of Debtor's equipment and after-acquired equipment. Which party has superior priority rights in the meat processing machine? Select one: a. Seller because a PMSI in equipment takes priority over a prior interest if the Seller perfects and notifies the Bank prior to delivery. b. Seller because a PMSI in equipment takes priority over a prior interest if the PMSI is perfected within 20 days after he receives it. C. The creditors have equal priority d. The party who is first to repossess the collateralStep by Step Solution
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