GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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22:41 Apr 25, 2018 |
Norwegian to English translations [PRO] Bus/Financial - Finance (general) / loans | |||||
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| Selected response from: Charlesp Sweden Local time: 21:51 | ||||
Grading comment
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Summary of answers provided | ||||
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5 | promissory note with a lien |
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promissory note with a lien Explanation: this is a "promissory note with a lien" A "salgspant" is literally a "sales-lien,” i.e. lien with the right to sell the hypothecated property. The Norwegian rules "salgspant" and on retention of title are found in the Mortgages and Pledges Act. It could be asserted that a lien gives the holder only a right to take over the property and not the power to sell, however this right is conferred by general practice in Norway. So you don't have to add "sales" to lean, but may want to for clarity. |
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