Limitation Act 1980: Sets time limits for debt recovery claims - 6 years for simple contracts and 12 years for specialties (deeds). Critical for determining if the debt claim is still within the legal timeframe.
Consumer Credit Act 1974: Regulates consumer credit agreements and sets out requirements for credit arrangements. Applicable if the debt involves a consumer rather than commercial entities.
Law of Property (Miscellaneous Provisions) Act 1989: Establishes requirements for creating legally binding agreements, particularly important for formal written contracts.
Contracts (Rights of Third Parties) Act 1999: Governs whether third parties have rights to enforce terms of the contract. Relevant if the debt involves or affects third parties.
Common Law Principles: Fundamental contract law principles including consideration, intention to create legal relations, capacity to contract, and offer and acceptance.
Statute of Frauds 1677: Historical legislation that requires certain types of contracts to be evidenced in writing to be enforceable.
Unfair Contract Terms Act 1977: Ensures that contract terms are fair and reasonable, protecting parties from unfair provisions in the agreement.
Late Payment of Commercial Debts (Interest) Act 1998: Provides for statutory interest on commercial debts, establishing rights to claim interest on late payments.
