Statute of Frauds 1677: Section 4 requires guarantees to be in writing and signed to be legally enforceable. This is a fundamental requirement for any guarantee agreement under English law.
Unfair Contract Terms Act 1977: Regulates unfair terms in contracts, particularly in business-to-business contexts. Certain terms in guarantees may be subject to reasonableness tests under this Act.
Consumer Credit Act 1974: Applies when the guarantee relates to consumer credit arrangements. Provides specific protections and requirements for guarantees in consumer credit contexts.
Consumer Rights Act 2015: Relevant when one party is a consumer, providing additional protections and requirements for fairness in consumer contracts including guarantees.
Financial Services and Markets Act 2000: Applicable if the guarantee relates to regulated financial activities. Sets out regulatory framework and requirements for financial services.
Contract Law Principles: Common law principles governing contract formation, consideration, and intention to create legal relations in the context of guarantees.
Guarantee vs Indemnity Principles: Legal distinction between guarantees (secondary obligation) and indemnities (primary obligation), affecting the nature and enforcement of the agreement.
Discharge Rules: Common law rules regarding circumstances under which a guarantee may be discharged, including material variations to the underlying contract.
Contractual Interpretation: Principles used by courts to interpret guarantee agreements, including the contra proferentem rule and basic principles of contractual construction.
FCA Regulations: Financial Conduct Authority regulations that may apply to guarantees in regulated financial services contexts.
Consumer Protection Regulations: Various consumer protection measures that may affect guarantees involving individual consumers.
Banking Regulations: Specific regulations affecting guarantees involving banks and financial institutions.
Rights of Subrogation: Legal principles governing the guarantor's right to step into the creditor's shoes after paying the guaranteed debt.
Enforcement Provisions: Legal framework for enforcing guarantees, including court procedures and remedies available to the creditor.
