UCC ARTICLE 9 PRIORITY: FIRST TO PERFECT Issue 1: Rule 1: When assigning priority to creditors, then (i) as between two perfected creditors, the first to file or perfect has priority; (ii) as between a perfected creditor and a secured creditor, the perfected creditor has priority Essay Jewel Analysis 1: Conclusion 1: Since Bank B has the earliest date of perfection, then Bank B's interest in Bank C's collateral is superior to Bank C's interest AND Bank B may use Bank C's collateral to offset any shortfalls when realizing on Albert's collateral