Buyer's Right to Waive Financing Contingency in Real Estate Contract

The dispute centered on a contract for the sale of an apartment building, where the seller unilaterally terminated the agreement after the buyer's bank failed to secure financing by the stipulated deadline, despite the buyer's efforts to obtain an extension, leading the buyer to sue for specific performance or damages. The court ultimately overturned the lower court's decision, reasoning that the clause making the sale conditional upon financing obtained by a specific date was established solely for the buyer's protection, and thus the buyer retained the right to waive the condition or request a reasonable extension, meaning the seller's unilateral termination based on the missed deadline, without demonstrating the buyer's bad faith or refusal to cooperate, constituted an abuse of the right to invoke the condition and was therefore unlawful.