Guðlaugr hét maðr. 

A man was named Gudlaugr.

Hann var Valentínusson. 

He was a son of Valentinu.

Hann bjó á bæ þeim, er hét at Stökkum. 

He lived at the farmstead, which is named "at Stakka."

Jólinn hét systir Guðlaugs. 

Gudlag's sister was named Joline.

Hana átti Ingi. 

Ingi married her.

Þat var eitt haust, þá er sauðir váru reknir saman í rétt at Rauðasandi, at Markús lét draga sauði sína í hús til skurðar. 

It was one autumn, when sheep were driven together in a public fold at Raudasand, that Markus had his sheep dragged into a house for slaughtering. 

Þá kómu þeir Guðlaugr ok Ingi til réttarinnar. 

Then Gudlaugr and Ingo arrived at the public pens.

Þeir fengu til mann þann, er Þormóðr hét, at draga sauð þann, er Ingi átti, til sauða Markúss, þeira er til skurðar váru dregnir, því at þeir vildu gefa Markúsi gagnsök í móti fjárheimtu þeiri, er hann heimti bænhústollinn at Inga. 

They caught that man, who was named Thormodr, dragging the sheep, which Ingi owned, to Markus's sheep, those which were dragged to the slaughtering house, because they wanted to give Markus a counter-charge against their claim-for-owing-money, which he clamed the chapel-tax to Ingi.

Síðan skildust menn at réttinni. 

Then the men separated at the public fold.

En um morgininn eftir fekk Markús menn til at skera sauði þá, er inn váru dregnir. 

But during the next morning, Markus's men went to slaughter those sheep, which had been dragged (off) inside.

En er húskarlar Markúss váru at slátra, þá sendu þeir Ingi mann til fundar við þá at vita, hvárt þeir hefði skorit sauðinn, þann er Ingi hafði látit draga til sauða Markúss, en þeir Markús vissu enga ván til, at Ingi átti þar sauð inni með sauðum Markúss. 

But when Markus's house-servants were at slaughtering, then they sent a man to Ingi to have a talk with him to know, whether they had slaughtered the sheep, those which Ingi had caused to drag to Markus's sheep, but they (Markus et al) knew no prospect of (that), that Ingi owned the sheep inside there with Markus's sheep.     (compare Z. fundr 2: liggja under e-n or e-m, to be subject to, belong to)

Þá höfðu húskarlar Markúss skorit sauðinn. 

Then Markus's house-servants had slaughtered the sheep.

En þá er sendimaðr Inga kom þangat til, er þeir slátruðu, þá heilsuðu þeir honum, en hann tók kveðju þeira. 

And/but when Ingi's messenger returned there, where they were slaughtering (the sheep), then they greeted him, and he received their greeting.

Hann tók upp höfuð sauða þeira, er þeir höfðu skorit, ok finnr þar höfuð þat, er mark Inga var á, en þeir svöruðu ok kváðust eigi vitat hafa, at með því marki hefði verit. 

He picked up a head of their sheep, which they had slaughtered, and finds there the head, which Ingi's mark was on, and/but they answered and said it wasn't known, that it had been with that mark.

Sendimaðr Inga fór í brott ok kemr á fund þeira Guðlaugs ok segir, at húskarlar Markúss hefði skorit gelding, er Ingi átti. 

Ingi's messenger went away and comes to meet Gudlaug and the others and says that Markus's servants had been slaughtering a gelding, which Ingi owned.

Nú er Markús varð þess varr, at húskarlar hans hefði skorit sauð þann, er Ingi átti, þá sendi hann mann til fundar við þá Inga ok Guðlaug ok bauð at gjalda fé fyrir sauð þann, vaðmál eða sauð þann annan, er þeir vildi, ef þeim þætti sér þat betr koma at hafa heldr en slátr þess sauðar, er skorinn var. 

Now when Markus heard of that, that his servant had slaughtered that sheep that Ingi owned, then he sent his man to meet with Ingi and Gudlaug and asked to repay money for that sheep, vadmal or another sheep, whichever he wanted, if they themselves thought it better to rather have fresh meat of that sheep, which was slaughtered.     (Z. varr 1: verða e-s v., verða v. við e-t, to be aware of, learn, hear)

Þeir svöruðu ok kváðust ekki vilja þat þiggja, er Markús bauð.

They answered and said for themselves to not to want to accept that, which Markus asked.