Illustrates the collateral its inventory and proceeds

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Q. Agile signs a financing statement that illustrates the collateral, its inventory and proceeds and HFC files the statement in the appropriate state office. Using the same collateral, Agile later borrows $500,000 from Metro Bank, which files its financing statement. Agile defaults on the loans. Metro claims that at the time of its loan it was unaware of HFCs interest. Among these parties, who has priority to the collateral? Examine your answer.

Reference no: EM13113079

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