Contracts (Rights of Third Parties) Act 1999: Key legislation governing third-party rights and their ability to enforce terms of a contract. Essential for determining enforceability of indemnities by or against third parties.
Limitation Act 1980: Sets statutory time limits for bringing different types of claims. Critical for indemnity provisions as it determines the timeframe within which claims can be made.
Unfair Contract Terms Act 1977: Regulates the use and enforceability of exclusion and limitation clauses, including requirements for reasonableness in contractual terms.
Consumer Rights Act 2015: Provides protection for consumers in contracts. Must be considered if any party to the indemnity agreement is acting as a consumer rather than in a business capacity.
Doctrine of Consideration: Common law principle requiring that all contracts must be supported by consideration to be legally binding.
Contractual Interpretation Principles: Common law rules governing how courts interpret contractual terms, including the natural and ordinary meaning of words and business common sense.
Penalty Clause Rules: Legal principles established in Cavendish Square Holding BV v Talal El Makdessi [2015] regarding the enforcement of penalty clauses in contracts.
Misrepresentation Act 1967: Governs remedies available for misrepresentation in contract formation, relevant for warranties and representations in indemnity agreements.
Supply of Goods and Services Act 1982: Implies terms about quality and fitness for purpose in contracts for goods and services, which may affect underlying obligations being indemnified.
Companies Act 2006: Relevant when parties to the indemnity agreement are companies, particularly regarding corporate capacity and authority to enter into indemnities.
Financial Services and Markets Act 2000: Must be considered if the indemnity relates to financial services or regulated activities within the financial sector.
