A vendor who demands settlement of a contract containing an unfulfilled contingent condition, without explicitly reserving the right to terminate for non-fulfilment of that condition, irrevocably elects to affirm the contract. A general reservation of rights 'as a consequence of the buyer's failure to settle' does not preserve the right to terminate for non-fulfilment of a contingent condition, because the right to terminate arises from non-fulfilment of the condition, not from any failure to settle.
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