Practice question
Two competing account security interests are both perfected by control agreements and no deposit-taking-bank or setoff preference affects them. Under Section18(c), which timing is relevant?
- Conclusion of the control agreements
- Only the underlying loan application dates
- Only the grantor’s birth date
- Only each creditor’s incorporation date
- Only the first collection lawsuit
Legal references
- RA11057 PPSA: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html Sections18(c),(e),19–20,22–23.
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