Cap. 16 Art. 1699When debtor may be compelled to redeem annuity.

Saving the cases expressly stated in the contract, the debtor of a perpetual annuity may be compelled to redeem it -

(a) if he fails to give to the creditor the security promised in the contract;

(b) if, in the event of failure of the security given, he does not give fresh security equally sufficient;

(c) if he fails for three years to pay the annuity, or if, notwithstanding that he made part-payments in each year, he remains a debtor in a sum equal in amount to three yearly payments;

(d) if he has become bankrupt or insolvent, or his condition has been so altered that the continuance of the payment of the annuity is endangered.