Statute of Frauds 1677: Fundamental legislation requiring personal guarantees to be in writing and signed by the guarantor, containing all essential terms of the guarantee
Contracts (Rights of Third Parties) Act 1999: Legislation governing whether and how third parties can enforce terms of the guarantee, may require explicit exclusion clause if third party rights are not intended
Consumer Credit Act 1974: Applies to individual guarantors in consumer credit situations, containing specific requirements for form, content, and mandatory notices and warnings
Unfair Contract Terms Act 1977: Regulates exclusion clauses and ensures terms are reasonable and fair in guarantee agreements
Consumer Rights Act 2015: Applies to guarantors acting as consumers, requiring fair and transparent terms and prohibiting unfair terms in the agreement
Financial Services and Markets Act 2000: Relevant legislation when the guarantee is connected to regulated financial services
Misrepresentation Act 1967: Deals with false statements that may have induced the guarantee, providing remedies for misrepresentation
Limitation Act 1980: Sets statutory time limits for enforcement of guarantees - 6 years for simple contracts and 12 years for deeds
Common Law - Contractual Capacity: Legal principles governing the capacity of parties to enter into guarantee agreements
Doctrine of Undue Influence: Legal principle protecting guarantors from improper pressure or influence in entering guarantee agreements
Rules on Variation and Discharge: Legal principles governing how guarantees can be modified or terminated
Principles of Construction: Legal rules governing how guarantee agreements should be interpreted and construed by courts
