2367. A contract for the constitution of an annuity is a contract by which a person, the debtor, undertakes, by gratuitous title or in exchange for the alienation of capital for his benefit, to make periodic payments to another person, the annuitant, for a certain time.
The capital may consist of immovable or movable property; if it is a sum of money, it may be paid all at once or in instalments.
1991, c. 64, a. 2367; I.N. 2014-05-01; 2016, c. 4, s. 254.