58Guarantees to be in writing

58 Guarantees to be in writing (1) No proceeding may be commenced on a promise to guarantee a liability of another unless the promise on which the proceeding is commenced, or some memorandum or note of the promise is: (a) in writing; and (b) signed by the party to be charged, or by some other person lawfully authorised by the party. (2) A promise in writing, or a memorandum or note of a promise, is not to be treated as insufficient for the purpose of this section only because the consideration for the promise does not appear in writing or by necessary inference from a written document.

Law of Property Act 2000 34