1. Introduction
A. History And Background
The Cayman Islands (the Islands) consist of three islands
located 475 miles south of Miami and 180 miles west of Montego Bay,
Jamaica. The capital of the Islands is George Town, which is
located on Grand Cayman, the largest of the Islands.
The Islands are a British Overseas Territory and have a Governor
appointed by the British government. The Islands have their own
Legislative Assembly and are largely self-governed. Although it has
the right to veto local legislation, the British government
generally does not intervene in the legislative process.
B. Legal System
The law of the Islands is based primarily upon English common
law and principles of equity. In addition, laws passed by the
Legislative Assembly and a substantive body of local case law have
provided the Islands with a modern legal framework. British
legislation does not apply in the Islands, save where it has been
specifically extended to the territory. The Islands have a Summary
Court, a Grand Court and a Court of Appeal. The English Privy
Council is the ultimate court of appeal.
The currency is the Cayman Islands Dollar (KYD), although the US
dollar is generally accepted throughout the Islands.