Section 2: Effects of the contract between the contracting parties.

The person in whose favour the life annuity has been constituted for a price may request the termination of the contract, if the settlor does not give him the securities stipulated for its execution.

The mere non-payment of the arrears of the annuity does not authorise the person in whose favour it is constituted to demand repayment of the capital, or to re-enter the land alienated by him: he has only the right to seize and have sold the property of his debtor and to have ordered or consented, out of the proceeds of the sale, the use of a sum sufficient for the…

The settlor cannot release himself from the payment of the annuity, by offering to repay the capital, and by renouncing the recovery of the arrears paid; he is bound to serve the annuity during the whole life of the person or persons on whose life the annuity was constituted, whatever the duration of the life of these persons, and whatever onerous the service of the annuity may have become.

The life annuity vests in the owner only in proportion to the number of days he has lived. Nevertheless, if it has been agreed that it is to be paid in advance, the term that had to be paid vests from the day on which payment had to be made.

A life annuity can only be stipulated as unseizable when it has been constituted free of charge.

The owner of a life annuity may only claim arrears by proving its existence, or that of the person on whose life it was constituted.