Buyer's Financing Default Upheld Due to Lack of Written Contract Modification

A contract for the sale of a property was terminated by a lower court due to the buyer's failure to meet a deadline for obtaining financing, despite the buyer having requested an extension which was granted verbally but not in writing as stipulated by the contract's formal clause requiring written modifications. The high court upheld the termination, reasoning that the clause requiring modifications to be in writing was a condition of validity, not merely a requirement for proof, and therefore the verbal extension was insufficient to override the explicit contractual provision regarding the financing deadline.