Cap. 16 · Civil Code (Cap. 16)
Cap. 16 Art. 1068Resolutive condition is implied in bilateral contracts.
Sub-title III
A resolutive condition is in all cases implied in bilateral agreements in the event of one of the contracting parties failing to fulfil his engagement:
Provided that in any such case, the agreement shall not be dissolved ipso jure, and it shall be lawful for the court, according to circumstances, to grant a reasonable time to the defendant, saving any other provision of law relating to contracts of sale.