Cayman Islands: The Contracts (Rights of Third Parties) Law (Conyers, Dill Pearman Client Alert)

Conyers Dill Pearman issued a client alert regarding the Contracts (Rights of Third Parties) Law ("the Law"). The Law, which was published and became immediately effective on May 21, 2014, allows for the enforcement of contractual rights by a third party. Additionally, the Law permits a variation in the preexisting position under Cayman Islands law based upon the common law doctrine of privity of contract.

The alert from Conyers provides an overview of, among other things, the rights of a third party, the limitations on the third party, the variation and rescission of a contract, and defenses and protection against double liability under the Law.

Click here to view the client alert from Conyers Dill Pearman.See generally: Cabinet Non-U.S. Funds Materials.