701. Annuities for life.

701.     Annuities for life.

An annuity1 given by will to a person, without words of limitation2, is for life only3. This is the general rule, so that if a longer duration is claimed, it is for the claimant to establish an exception to this rule4. Even where an annuity is given by will to one person for life and then to another, both persons take life annuities only5.