Statute of Frauds 1677: Section 4 requires guarantees to be in writing and signed to be enforceable. This is a fundamental requirement for the validity of any guarantee agreement.
Contracts (Rights of Third Parties) Act 1999: Governs how third parties may enforce terms of a contract. Relevant for understanding the rights of parties not directly party to the guarantee agreement.
Limitation Act 1980: Establishes statutory time limits for bringing claims under guarantees, typically 6 years from the date of breach.
Consumer Credit Act 1974: Provides protection for consumers in credit arrangements, including guarantees. Must be considered if the guarantee has a consumer element.
Unfair Contract Terms Act 1977: Regulates the use and enforcement of exclusion and limitation clauses in contracts, including guarantees.
Consumer Rights Act 2015: Provides additional protection when one party is acting as a consumer, affecting terms that can be included in the guarantee.
Common Law - Consideration: Legal principles regarding the requirement for consideration in guarantee agreements, essential for contract validity.
Common Law - Co-surety: Legal principles governing the relationship between multiple guarantors in joint guarantee arrangements.
Common Law - Contribution Rights: Principles governing rights of contribution between guarantors, determining how liability is shared.
Common Law - Guarantee Discharge: Rules regarding when and how guarantees can be discharged, including through variation of the underlying contract.
Financial Services and Markets Act 2000: Regulatory framework for financial services, relevant if the guarantee is connected to regulated financial activities.
FCA Regulations: Financial Conduct Authority regulations that may apply if the guarantee is connected to regulated financial activities or entities.
