In a commercial purchase, the agreement includes a further-term condition, for the purchaser's sole benefit, requiring resource consent for a proposed development. The consent is declined, but the purchaser believes an appeal would succeed. What can the purchaser do?

This question examines the fundamental principle of condition waiver in commercial property transactions under TLANZ/REINZ terms. When a condition precedent cannot be satisfied (resource consent declined), the purchaser retains the right to waive that condition and proceed unconditionally. This principle reflects the contractual freedom parties have to modify their agreement terms, even when circumstances change unfavorably. The ability to waive conditions is crucial in commercial transactions where purchasers may have strategic reasons to proceed despite initial setbacks. This connects to broader concepts of risk allocation, contractual flexibility, and the distinction between conditions precedent and subsequent. Understanding this principle is essential for agents advising clients on complex transactions where conditions may not be satisfied as originally anticipated, yet commercial imperatives may justify proceeding regardless.