Juan Delivers Possession of His Car to Magic Bank and Financial

Multiple Choice

Juan delivers possession of his car to Magic Bank and Financial Services as collateral on a loan on September 1^st. The next week he uses the same car as collateral in another loan from Truman Financial on September 8^th. Truman Financial files a UCC-1 financing statement that same day on September 8^th. A month later, Juan defaults on both loans. Which bank has priority?

A) Magic Bank and Financial Services
B) Truman Financial
C) Both banks have equal priority.
D) The bank which loaned the largest amount of money to Juan.