HRESULT: 0×80040E14 error when adding items to SharePoint

When attempting to create a new folder in our SharePoint, I faced the following error message: Exception from HRESULT: 0x80040E14 with an impressive stack filling in my entire screen.

Googling this error message will send you to the Microsoft KB 841216 as first result. However the 3rd result will display an alternative solution from Alex Pearce's SharePoint blog. Alex suggest that your the reason can be in fact totally trivial and due to:

1. Your SQL server data drive being full, or
2. Your data or log file reached there full allocated size, or
3. Your database size is full and not set to increase.
   

In my case, the log file was full and I simply needed to shrink it. Kind of stupid, no ?