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The pipes in Mike's house burst. He hires Jim's plumbing to repair the pipes and fix the damage to his finished basement for $2,000. Mike

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The pipes in Mike's house burst. He hires Jim's plumbing to repair the pipes and fix the damage to his finished basement for $2,000. Mike pays $1,000 of the price in advance. Jim's does the work, but Mike refuses to pay the rest of the price. What can Jim's do, and how is it done? Dick's sporting goods orders golf clubs from TaylorMade, which has an unperfected security interest in the equipment until it is paid for. Meanwhile, Dick's takes out a loan from Bank of America subject to a security interest in Dick's merchandise, which Bank of America perfects. Dick's files a petition in bankruptcy for relief in a liquidation proceeding. If the petition is granted, in what order will the creditors be paid

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