Cap. 16 Art. 1058Where obligation is contracted on condition that an event shall happen within a certain time.

(1) Where an obligation is contracted on condition that an event shall happen within an appointed time, such condition shall be deemed to have failed if the time expires without the event having happened.

(2) Where no time is fixed, the condition shall not be deemed to have failed until it is certain that the event will not happen: Provided that, where the condition consists in an act which can be performed by the obligee, it shall be lawful for the court, according to circumstances, to fix a time for the fulfilment of the condition, and if, on the expiration of such time, the condition has not been fulfilled, the obligation ceases.