Peter Borrows $5,000 from Willy in a Secured Transaction Using

Multiple Choice

Peter borrows $5,000 from Willy in a secured transaction using Peter's sports car as collateral.Peter then borrows $7,000 from Jane using the same sports car as collateral.Neither Willy nor Jane perfects their security interests.Peter defaults on the loans.The party with priority is

A) Willy,because his interest was the first to attach.
B) Jane,because Peter owes her more money.
C) Jane,because her interest was the second to attach.
D) Willy,because Peter owes him less money.