Statute of Frauds 1677: Section 4 requires guarantees to be in writing and signed by the guarantor or their authorized representative. This is a fundamental requirement for the validity of any guarantee agreement.
Consumer Rights Act 2015: Applicable when the guarantor is a consumer, providing protection against unfair terms and ensuring transparency in guarantee agreements.
Unfair Contract Terms Act 1977: Controls the use of exclusion and limitation clauses in contracts, including guarantees, ensuring fairness and reasonableness.
Misrepresentation Act 1967: Governs cases where a guarantee was given based on false statements or misrepresentations, providing remedies for the affected party.
Financial Services and Markets Act 2000: Relevant for guarantees related to regulated financial activities, establishing regulatory framework and compliance requirements.
Consumer Credit Act 1974: Applies to guarantees related to consumer credit arrangements, providing specific protections and requirements for credit-related guarantees.
Money Laundering Regulations 2017: Requires proper due diligence and identity verification procedures when establishing guarantee relationships.
Common Law Principles: Includes rules on consideration, contractual interpretation, and discharge of guarantees as established through case law.
Insolvency Act 1986: Governs the enforceability of guarantees in insolvency situations and provides rules for guarantee arrangements with insolvent parties.
Retained EU Law: Relevant EU law principles that have been retained in UK law post-Brexit affecting guarantee agreements.
