Text of the provision

Art. 2022. The annuity may be constituted upon the life of the person who gives the capital, upon that of a third person, or upon the lives of various persons, all of whom must be living at the time the annuity is established. It may also be constituted in favor of the person or persons upon whose life or lives the contract is entered into, or in favor of another or other persons.

(1803a)

Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.

What this article means

The annuity may rest on the life of the giver of the capital, a third person, or several persons (all living at the outset), and in favor of the annuitant or others.

Related provisions

Cases interpreting this article

Note. The text of the provision above is reproduced in full from the official enactment (Republic Act No. 386), verified against the LawPhil and ChanRobles renderings. The annotation and commentary around it are the work of Vivas & Nobles Law Office and are general legal information, not legal advice. How a provision applies to a particular situation depends on facts that only a lawyer reviewing your case can assess.