Lando, Ole, When Will a Person be Liable or Bound When Negotiating a Contract?, in: And og rett - Festskrift til Birger Stuevold Lassen, Oslo 1997, at 623 et seq.

Art 2:301 (1) [PECL ] confirms the general attitude. A party is free to enter into negotiations even though he feels uncertain as to whether he will eventually make a contract. He may break off the negotiations, and does not have to disclose why he broke off. Shopkeepers and other sellers will generally have to accept that people inspect their goods and ask for prices and other terms without buying. The same applies to lessors and sellers of apartments and houses who invite inspection of the premises.

However, a party who has negotiated or broken off negotiations contrary to good faith is liable for the losses caused to the other party.

Referring Principles
Trans-Lex Principle: IV.8.1 - Principle of pre-contractual liability
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