The option of inspection shall not lapse by waiver; however, it shall lapse upon the inspection of the subject matter of the contract and its acceptance, whether expressly or implicitly. It shall also lapse upon the death of its holder, the total or partial perishing of the subject matter of the contract, its defectiveness, or upon any disposition thereof by the option holder that does not admit of rescission or a disposition that creates a right for another.
Interpretation and application must be checked against the official text and current version.