Samningsbundin
Samningsbundin is an Icelandic legal term that denotes obligations or terms that arise from a contract and are binding on the parties involved. The word combines samning, meaning contract or agreement, with bundin, meaning bound. In legal usage, it describes the status of duties that a contract creates and that are enforceable by the courts.
In Icelandic contract law, once a contract is valid and enforceable, the parties are samningsbundin to the
The concept applies across a wide range of contexts, including sales, service agreements, leases, and employment
Overall, samningsbundin highlights the core function of contracts: to create predictable, legally enforceable relationships by turning