3065

The debtor shall lose all right to profit by the period:\n(1) If after contracting the obligation it should appear that he is insolvent, unless he gives security for the debt.\n(2) If he does not give to the creditor the guaranties stipulated.\n(3) If by his own acts he should have reduced said guaranties after giving them, and if they disappear through a fortuitous event, unless they are immediately substituted by new ones equally safe.\nHistory —Civil Code, 1930, § 1082.