Consumer Credit Act 1974: Primary legislation governing consumer credit agreements in England and Wales. Essential if the joint loan is being made to consumers rather than businesses.
Financial Services and Markets Act 2000: Key legislation regulating financial services and markets in the UK, establishing the regulatory framework for financial activities.
Consumer Rights Act 2015: Consolidates consumer protection law and sets out the basic rights of consumers, including unfair terms in consumer contracts.
Unfair Contract Terms Act 1977: Controls unfair terms in contracts, particularly exclusion and limitation clauses, applicable to both consumer and business contracts.
Law of Property Act 1925: Relevant if the loan is secured against property, governing the creation and enforcement of security interests.
FCA Regulations: Regulatory requirements set by the Financial Conduct Authority governing conduct of financial services firms and consumer protection.
Consumer Credit Sourcebook (CONC): Part of the FCA handbook containing detailed rules and guidance for consumer credit firms.
Regulated Activities Order 2001: Specifies which activities require FCA authorization, including certain lending activities.
Money Laundering Regulations 2017: Requirements for due diligence and anti-money laundering procedures in financial transactions.
Data Protection Act 2018: UK's implementation of data protection requirements, including UK GDPR, governing how personal data must be handled.
Unfair Terms in Consumer Contracts Regulations 1999: Protects consumers against unfair standard terms in contracts (now largely superseded by the Consumer Rights Act 2015 but still relevant for understanding case law).
Consumer Protection from Unfair Trading Regulations 2008: Prohibits unfair commercial practices between traders and consumers, including misleading actions or omissions.
Contract Formation Principles: Common law principles governing offer, acceptance, consideration, and intention to create legal relations.
Joint and Several Liability: Common law principle determining how liability is shared between joint borrowers, crucial for joint loan agreements.
Contractual Capacity: Common law rules determining who has the legal capacity to enter into binding contracts.
Misrepresentation Law: Legal principles governing false statements that induce contract formation, both common law and statutory under the Misrepresentation Act 1967.
Undue Influence: Equitable doctrine protecting parties from improper pressure or influence in entering contracts, particularly relevant in joint borrowing situations.
