Vendor v. Buyer: Specific Bank Loan Condition Precedent Not Met

A vendor contracted to sell property under the condition precedent that the buyer obtain a loan from a specified bank, but the buyer instead obtained a loan from a different financial institution, leading the vendor to refuse to execute the final deed, arguing the condition precedent was not met. The court ruled that the condition stipulated the source of the financing (the specific bank) was essential to the contractual agreement, meaning a loan from a different institution did not fulfill the requirement, thus upholding the vendor's refusal to complete the sale because the stipulated potestative condition, essential to the mutual consent, had not been satisfied as written.