If the seller provides the buyer with incorrect information about the goods, this may result in the goods being considered defective. This follows from Section 18 of the Norwegian Sale of Goods Act. The seller may also be held liable for...

Section 26 of the Norwegian Sale of Goods Act governs termination of contracts involving goods to be manufactured. The provision means that a higher threshold applies for terminating such contracts than for “ordinary” sales contracts. Where the seller is left with an expensive...

A breach of a monetary obligation may occur in various ways, for example if the claim is not paid at all, if too little is paid, if payment is made late, or if payment is made subject to conditions that the creditor is not...

Involuntary credit arises when the debtor fails to pay at maturity (breach). From the creditor’s perspective, this credit is involuntary. The debtor effectively obtains it by failing to pay. In such cases...

Next to payment, limitation (statute of limitations) is the most important ground for the extinction of monetary claims. Limitation means that the claim is extinguished because the creditor has waited too long to assert it. Once the claim is time-barred...

Six founders jointly owned a company. In 2017, four of the founders sold a total of 45.5% of the shares to the two remaining owners for nearly NOK 41 million. The buyers were unable to...