Section 27 — Property Law Act 2007: Contracts of guarantee must be in writing

27 Contracts of guarantee must be in writing (1) This section applies to contracts of guarantee coming into operation on or after 1 January 2008. (2) A contract of guarantee must be— (a) in writing; and (b) signed by the guarantor. (3) Subsection (2) does not require the consideration for a contract of guarantee to be in writing or to appear by necessary implication from a writing. (4) In this section, contract of guarantee means a contract under which a person agrees to answer to another person for the debt, default, or liability of a third person. Compare: 1956 No 23 ss 2 , 3