In AC502's Unit 6 secured transactions problem, an equipment dealer outranks the bank on one roaster, the bank outranks an importer on green coffee, and a title lender keeps the van. Searches like "ac 502 unit 6 assignment example", "ac502 unit 6 sample" and "ac502 unit 6 example" land here.
What a finished AC502 Unit 6 secured transactions problem looks like
Four or so pages, anchored by a priority table with one row per item of collateral and one column per claimant. Composite facts come first as a dated list. A bank lent in March 2024 under a signed agreement covering equipment, inventory and accounts, later-acquired property included, and filed that month. A dealer sold the roaster on credit, delivered it June 2, 2025, and filed June 18. A green coffee importer took a security interest in its shipments and filed July 1 without notifying the bank. A finance company's lien is noted on the delivery van's certificate of title. A judgment creditor levied on the roaster in September. The body runs attachment, perfection and priority in that order for each claim, and the table records the final ranking.
How a AC502 Unit 6 example is structured
Each claim passes through the same three gates in the same order, because priority cannot be argued for a security interest that never attached. Attachment is tested first against section 9-203: value given, rights in the collateral, and a signed agreement describing it. Perfection follows, and here the method matters: filing works for the roaster and the coffee, while the van, as a titled vehicle, is perfected only by notation on its certificate, so the bank's filing never reached it. Priority comes last. The general first-to-file-or-perfect rule favors the bank, and the paper then applies the two purchase-money exceptions, which divide on the facts: the dealer filed within twenty days of delivery and wins the roaster, while the importer never sent the notice inventory financing requires. One short passage explains why a cafe buying roasted coffee in ordinary course took it free.
Three gates per claim
Attachment under section 9-203, then perfection, then priority, run for each creditor in that order so no ranking rests on an unattached interest.
A roaster the bank does not get
The dealer's filing sixteen days after delivery falls inside the equipment purchase-money window and beats a financing statement filed a year earlier.
Green coffee and a missing notice
Inventory purchase-money priority needs perfection before delivery and notice to earlier filers; the importer gave the bank none, so first-to-file controls.
The van sits outside the filing
A titled vehicle is perfected by notation on its certificate, so the finance company holds the van and the bank's blanket filing never reaches it.
Later liens and ordinary buyers
The September levy ranks behind every perfected interest in the roaster, and a cafe buying roasted coffee in ordinary course takes free of the bank.
Where marks go in AC502 Unit 6
Priority argued before attachment is the ordering error graders mark first, since an interest that never attached has no place in the ranking. The purchase-money rules decide most of this problem, and they are where papers slip: treating the equipment and inventory exceptions as identical misses the notice the importer never sent, while ignoring the twenty-day window for equipment hands the roaster to the wrong creditor. The certificate-of-title point is often missed altogether, with the bank's blanket filing assumed to cover the van. Placing the judgment creditor ahead of perfected interests misreads its position as a later lien creditor. Answers that rank claimants in general, rather than collateral by collateral, cannot show the bank losing one asset and winning another. Naming the ordinary-course buyer earns a mark.
Get a AC502 Unit 6 example written to your instructions
Set out the Unit 6 facts with every filing date, delivery date and collateral description the scenario gives, and add the rubric. A priority table comes back within 24-48h with the attachment, perfection and priority analysis behind each row. A first custom sample is free of charge, and the roaster and its creditors are invented for the exercise.
AC502 Unit 6 questions, answered
Why does the dealer beat a bank that filed more than a year earlier?
Because purchase-money priority is the code's deliberate exception to first-to-file. A seller financing the very equipment it delivers takes priority over earlier blanket liens if it perfects within twenty days after the debtor receives the goods, and the dealer filed on day sixteen. The example states the general rule first, then shows exactly which facts satisfy the exception.
Would a notice to the bank have saved the importer?
Probably, if the notice reached the bank before the coffee arrived and the importer had also perfected by then. Inventory purchase-money priority requires both steps, so a lender already financing inventory can stop advancing against goods it will not control. The example marks the missing notice as the single fact that sent the importer behind the bank on every shipment.
Where would an accountant meet these rules?
In lien searches during an audit or a loan review, and in disclosing pledged assets. Knowing which filing covers which asset tells a reader of the statements what unsecured creditors can actually reach. The example closes with a sentence on that use, which keeps the problem inside a course designed for accountants rather than for lenders' counsel.