Failure to Satisfy Condition Precedent Terminates Preliminary Real Estate Agreement

A dispute arose regarding a real estate transaction where a preliminary agreement stipulated a condition precedent concerning the obtention of administrative authorization for a subdivision, and the party obligated to obtain this authorization failed to do so within the agreed timeframe, subsequently seeking to enforce the agreement. The court held that the failure to satisfy the condition precedent within the stipulated period, attributable to the obligated party, resulted in the automatic termination of the preliminary agreement, thereby negating any obligation for the other party to proceed with the final sale, leading to the cassation of the lower court's decision which had favored enforcement.