Commercial Act — Article 68 (Rescission of Contract for Sale at Fixed Time)

In a sale between merchants, if, by the nature of the sale or declaration of the intent of the parties, the purpose of the contract cannot be attained unless such contract is performed at a fixed time or within a fixed period, and one of the parties has allowed the time to elapse without performance on his/her part, the other party shall be deemed to have rescinded the contract unless he/she immediately demands the performance.