Statute of Frauds 1677: Section 4 requires guarantees to be in writing and signed to be legally enforceable
Contracts (Rights of Third Parties) Act 1999: Governs how third parties may enforce terms of a contract, including guarantees, even if they are not party to it
Consumer Credit Act 1974: Applies when the guarantor is an individual and the guarantee relates to consumer credit arrangements
Consumer Rights Act 2015: Provides protection for guarantors who are acting as consumers, including provisions about fairness of terms
Unfair Contract Terms Act 1977: Regulates unfair terms in contracts, including requirements for reasonableness in guarantee agreements
Financial Services and Markets Act 2000: Relevant when the guarantee is connected to regulated financial activities or services
Common Law Contract Formation: Fundamental principles governing offer, acceptance, consideration, and intention to create legal relations
Doctrine of Undue Influence: Legal principle protecting guarantors from pressure or improper influence when entering into guarantee agreements
Misrepresentation Rules: Legal rules protecting parties from false statements or misrepresentations that induced them to enter the guarantee
Money Laundering Regulations 2017: Compliance requirements for identity verification and due diligence in financial arrangements
Banking Act 2009: Relevant for guarantees involving banking transactions or financial institutions
Insolvency Act 1986: Governs the enforcement of guarantees in cases of insolvency and bankruptcy
