What type of hypothec is established by a contract between a creditor and a debtor?

The correct answer is the conventional hypothec, which is established through a formal agreement between a creditor and a debtor. This type of hypothec is a private arrangement where the debtor grants the creditor a security interest in specific property as collateral for a debt. The terms of the hypothec, including the property involved and the obligations of both parties, are detailed in the contract they enter into.

In contrast, a legal hypothec is not based on a contract but rather arises automatically under certain conditions defined by law, such as for unpaid taxes or specific debts. A public hypothec refers specifically to rights that arise in the context of public debts and obligations, and it does not involve a private agreement between two parties. Lastly, a secured hypothec term does not refer to a specific type of hypothec but rather is an overarching term that may include both conventional and other types, whereas the focus here is specifically on hypothecs that are contractually agreed upon.