Civil Law Act (Cap. 43): Key legislation requiring guarantees to be in writing and signed to be enforceable, particularly Section 6. This is fundamental for the validity of the Personal Guarantee Agreement.
Contracts Act (Cap. 53): Core legislation governing contract formation, consideration requirements, and capacity to contract. Essential for ensuring the guarantee agreement meets basic contract law requirements.
Banking Act (Cap. 19): Relevant when the personal guarantee is related to banking facilities or banking transactions. Provides regulatory framework for banking-related guarantees.
Statute of Frauds: Legal principle requiring written evidence of the guarantee, incorporated into Singapore law through the Civil Law Act. Essential for enforcement of the guarantee.
Unfair Contract Terms Act (Cap. 396): Legislation governing the reasonableness of contract terms and providing protection against unfair terms in contracts, including guarantees.
Moneylenders Act (Cap. 188): Applicable when the guarantee relates to moneylending transactions. Provides specific requirements and protections for guarantees in moneylending contexts.
Common Law Principles: Legal principles developed through case law regarding rights of guarantors, discharge of guarantees, and co-guarantors' rights and obligations.
Legal Capacity Requirements: Rules regarding capacity to enter into guarantee agreements, including age of majority (21 in Singapore), mental capacity, and corporate authority for company guarantors.
Case Law on Guarantees: Judicial decisions and precedents regarding interpretation of guarantee provisions, enforcement mechanisms, and available defenses for guarantors.
