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What is the contract entered into by the debtor and creditor

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Question - Debtor owes P100,000 from Creditor with agreement to pay interest at 10% per annum. As payment for the loan, debtor allows the creditor to use and take control of his farm, and the creditor to sell the fruits of the land applying the proceeds to the interest and then to the principal loan.

What is the contract entered into by the debtor and creditor? 

What are the rights of the creditor? 

What are the obligations of the creditor?

What are the obligations of the debtor?

Reference no: EM132910429

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