Statute of Frauds 1677: Section 4 requires guarantees to be in writing and signed to be enforceable. Essential legislation for both the original guarantee and settlement agreement.

Contracts (Rights of Third Parties) Act 1999: Governs how the settlement may affect rights of third parties. May require explicit addressing of third party rights in the agreement.

Limitation Act 1980: Sets time limits on enforcement of contracts and legal claims. Important for determining validity of claims being settled.

Law of Contract Fundamentals: Core principles including consideration, intention to create legal relations, capacity, and offer and acceptance that must be satisfied for valid contract formation.

Financial Services and Markets Act 2000: Relevant when settlement involves regulated financial entities or services. Sets regulatory framework for financial activities.

Consumer Credit Act 1974: Applicable if the original guarantee was consumer-related. Provides consumer protection in credit arrangements.

Insolvency Act 1986: Relevant for settlements involving insolvent parties or insolvency situations. Governs treatment of guarantees in insolvency.

Unfair Contract Terms Act 1977: Controls unfair terms in business-to-business guarantees. Important for ensuring settlement terms are fair and enforceable.

Consumer Rights Act 2015: Applicable if the guarantor is acting as a consumer. Provides additional protections and rights for consumers.

Misrepresentation Act 1967: Governs false statements or representations made in reaching settlement. Provides remedies for misrepresentation in contract formation.