Sale Contract Termination Due to Failure to Meet Condition Precedent Deadline

A lower court determined that a contract for the sale of a building, which was subject to a condition precedent concerning the obtainment of administrative authorization for the demolition and subsequent reconstruction of the property, was automatically terminated when the required authorization was not obtained within the agreed-upon timeframe stipulated in the contract, despite the purchaser's subsequent, unsuccessful attempt to seek a waiver of the condition. The highest court upheld this decision, reasoning that the time specified for fulfilling the condition was essential to the agreement, and since the authorization was not secured within that period, the condition failed, leading directly to the contract's automatic termination without the need for judicial intervention, as stipulated by the terms of the agreement itself.