Whose security interest has priority

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Q. Eagle Stores, Inc., borrows $5,000 each from EZ Credit Corporation, First National Bank, also Great Products Corporation. Eagle uses its "present inventory also any thereafter acquired" to secure the loans from EZ Credit also First National. EZ Credit perfects its interest on April 1, followed by First National on April 5. Eagle buys new inventory on April 10 from Great Products also signs a security agreement, giving Great Products a purchase-money security interest in the new inventory. On the same day, Great Products perfects its interest also notifies EZ Credit also First National. Eagle takes possession of the new inventory on April 15. On April 20, Eagle defaults on all of the loans. Whose security interest has priority?

Reference no: EM1395944

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