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Lena borrows from Mac and Nicol, using the same collateral for both loans. Only Nicol has a perfected security interest. Lena defaults on both loans....

Lena borrows from Mac and Nicol, using the same collateral for both loans. Only Nicol has a perfected security interest. Lena defaults on both loans. The party with first rights to the collateral is
a. Lena.
b. Mac and Nicol, in proportion to Lena's debt to each.
c. Mac only.
d. Nicol only.
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Lena borrows from Mac and Nicol, using the same collateral for both loans. Only Nicol has a perfected security
interest. Lena defaults on both loans. The party with first rights to the collateral...

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