Paul High purchased various items of personal property and Livestock form William and Marilyn McGown. To secure

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Paul High purchased various items of personal property and Livestock form William and Marilyn McGown. To secure the purchase price, High granted the McGowens a security interest in the personal property and livestock. Two and one-half months later, High borrowed $86,695 from Nebraska State Bank (Bank) and signed a promissory note, granting Bank a security interest in all his farm products, including but not limited to all his livestock. Bank immediately perfected its security agreement by filing a financing statement with the county clerk in Dakota County. Nebraska. The McGowens perfected their security interest by filing a financing statement and security agreement with the county clerk three months after Bank filed its financing statement. Three years later, High defaulted on the obligations owed to the McGowens and Bank. Whose security interest has priority?
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Vector Mechanics for Engineers Statics and Dynamics

ISBN: 978-0073398242

11th edition

Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self

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