First to File or First to Cry: Welcome to Priority Battles
We got a new MEE module today on
Secured Transactions: Priority.
Welcome to the priority battlefield - everyone’s got a lien, nobody’s playing fair, and the Galaxy Explorer™ is up for grabs.
This one is BIG, so I'm breaking it up into two parts.
You can find it in the free
MEE Course.
Pretty simple. General partnerships are dangerous for this reason.
Pretty simple. General partnerships are dangerous for this reason.
Today we cover:
- What it means to have a perfected security interest
- Why unperfected parties get wrecked by anyone with a filing cabinet
- The First to File rule, and how it destroys lives
- Why PMSIs (purchase-money security interests) get superpowers, but only if you follow the rules
- The IGC mnemonics you’ll be screaming in your sleep
You’ll also learn why giving someone money to buy a pizza isn’t just generous, it’s legally significant. And why the bar exam will absolutely throw in one sketchy garage sale buyer just to see if you flinch.
Priority rules are where MEE scorers go to collect tears. But with the right structure, you’ll walk in confident and leave with every single point.
