Practice question
A perfected creditor argues that commencement of the grantor’s insolvency necessarily cancels its priority. Apply Section22 with its qualification.
Legal references
- RA11057 PPSA: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html Sections18(c),(e),19–20,22–23.
Answer this question in flashcards to review your response and continue practicing.