Civil Law Act (Cap. 43): Primary legislation governing guarantees in Singapore. Section 6 requires guarantees to be in writing and signed to be enforceable. Contains provisions regarding consideration and contractual formalities.
Contracts (Rights of Third Parties) Act: Legislation governing how third parties may enforce terms of a contract, including guarantees, and their rights under the guarantee agreement.
Banking Act (Cap. 19): Regulatory framework for banking-related guarantees, including specific requirements for financial institutions when handling guarantees.
Unfair Contract Terms Act (Cap. 396): Legislation controlling the use of exclusion clauses and ensuring reasonableness in contract terms, applicable to guarantee agreements.
Limitation Act (Cap. 163): Sets time limits for enforcement of guarantees and prescription periods for claims under guarantee agreements.
Companies Act (Cap. 50): Relevant for guarantees involving corporate entities, including requirements for corporate authority and execution of guarantees by companies.
Common Law Principles: Foundational legal principles covering contract formation, misrepresentation, undue influence, and contractual interpretation in guarantee agreements.
Bankruptcy Act (Cap. 20): Legislation governing the impact of guarantor bankruptcy and creditors' rights in guarantee agreements.
Property Law: Legal framework relevant when guarantees are secured against property assets.
Money Lending Act: Regulatory requirements applicable when the underlying debt in the guarantee relates to money lending activities.
