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Category: Business

Real Estate Sales Corporation (RESC) orders office equipment from Standard Goods, Inc., which has an unperfected security interest in the equipment until it is paid for. Meanwhile, RESC takes out a loan from Trend Credit, Inc., subject to a security interest in RESC’s building and equip¬ment, which Trend perfects. RESC files a petition in bankruptcy for relief in a liquidation proceeding. If the petition is granted, in what or¬der will RESC’s creditors be paid?