Question: 3. Jose obtained a loan from Pedro amounting to PhP1 Million. As a security, Jose mortgaged his land (with a fair market value of PhP700,000.00)

3. Jose obtained a loan from Pedro amounting to PhP1 Million. As a security, Jose mortgaged his land (with a fair market value of PhP700,000.00) to Pedro. Subsequently, Jose sold the land to Mario. What is the effect of the sale of the land to the obligation of Jose to Pedro? Assuming Jose could not pay his obligation, what are the remedies of Pedro? Explain your

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