Time limit for the liability of the assignor

Where the transferor has assumed the responsibility for the solvency of the debtor, but the time for which such responsibility is to last has not been specified, the same shall be limited to a period of one year, from the date of the contract, where the debt is already due, and if it had not matured from the time of its maturity. Sole paragraph: Where the transfer is of the rent or of the installments payable in perpetuity, the liability of the transferor shall last for a period of ten years, in the absence of a stipulation to the contrary.