Lessee's Failure to Timely Collect Registered Letter Waives Right of First Refusal

A lessee, who had been granted a right of first refusal for the sale of the leased property, was deemed to have waived this right when the lessor provided notice of the sale price via registered letter, which the lessee only collected after the prescribed legal period for exercising the option had expired. The court upheld the lower court's decision, reasoning that the lessee's failure to timely retrieve the registered letter containing the formal offer meant the statutory deadline for exercising the right of first refusal had passed, thereby validating the sale to a third party.