What is the rule regarding priority between two unsecured parties?

In the context of priority between unsecured parties, the principle that governs is the timing of attachment. When dealing with unsecured creditors, the first party to establish its claim by attachment holds the priority. Attachment, which involves the creditor gaining a security interest in the debtor's property, is critical because it reflects a legally recognized interest in the debtor's assets.

Once a party attaches its interest, it has priority over any subsequent unsecured claims, as no other criterion—like financial stability or relationships with the debtor—is relevant in determining who has the stronger claim in such situations. This principle underscores the importance of timely action for creditors seeking a legal foothold in a debtor's property.

In contrast, options that imply relationships or collateral do not apply to unsecured parties, as they are not tied to any secured interests that would dictate priority. Thus, the clear rule of "first to attach wins" effectively ensures a structured approach in navigating claims among unsecured creditors.