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Article 2022

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

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.

Official text — RA 386

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)

Source: lawphil.net (RA 386 as amended)

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