Breach of Promise to Sell Without Timely Exercise of Option

A party appealed a lower court decision that required them to pay damages for breach of a promise to sell, despite the fact that the formal act of sale was never executed because the promisee failed to notify the promisor of their intention to exercise their option to purchase within the stipulated timeframe. The high court quashed the decision, reasoning that because the option to purchase was not exercised according to the conditions stipulated in the unilateral promise, the promisor was not obligated to execute the final sale, and therefore, the claim for damages based on the breach of the promise was unfounded.