{"kind":"expression","expression":{"expr_id":"117","doc_id":"117","label":"1997 Revision","is_as_enacted":"f","commenced_on":null,"superseded_on":null,"valid_from":null,"valid_to":null,"is_current":"t","incorporating":null,"akn_expr_iri":"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/act\/1964\/97\", \"expression\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01\", \"manifestation\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01.pdf\"}, \"pdf\": {\"md5\": \"c52af9cadbe6c57a0b73168ac745b329\", \"path\": \"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.pdf\", \"pages\": 8, \"filename\": \"1964-0097_1997 Revision.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 1201, \"paragraph_count\": 10, \"text_char_count\": 7751}, \"usage\": null, \"method\": \"pymupdf-text\", \"version\": \"kyleg-akn-1.0\", \"extracted_at\": \"2026-06-22\"}, \"classification\": \"text_layer\", \"validation_flags\": [], \"docai_processor_id\": null}, \"akomaNtoso\": {\"act\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"Mercantile Law (1997 Revision) MERCANTILE LAW (1997 Revision) ENACTED by the Legislature of the Cayman Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Short title 1. This Law may be cited as the Mercantile Law (1997 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Consideration for guarantee 2. No special promise, to be made by any person to answer for the debt, default or miscarriage of another person, being in writing, and signed by the party to be charged therewith or some other person by him thereunto lawfully authorised, shall be deemed invalid to support an action, suit or other proceeding to charge the person by whom such promise shall have been made, by reason only that the consideration for such promise does not appear in writing or by necessary inference from a written document. Mercantile Law\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Guarantee to a firm to cease on a change in firm 3. No promise to answer for the debt, default or miscarriage of another made to a firm consisting of two or more persons or to a single person trading under the name of a firm, and no promise to answer for the debt, default or miscarriage of a firm consisting of two or more persons or of a single person trading under the name of a firm, shall be binding on the person making such promise in respect of anything done or omitted to be done after a change shall have taken place in any one or more of the persons constituting the firm or in the person trading under the name of a firm, unless the intention of the parties, that such promise shall continue to be binding notwithstanding such change, shall appear either by express stipulation or by necessary implication from the nature of the firm or otherwise.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Surety entitled to assignment of securities 4. Every person who, being surety for the debt or duty of another, or being liable with another for any debt or duty, shall pay such debt or perform such duty, shall be entitled to have assigned to him or to a trustee for him, every judgment, specialty or other security which shall be held by the creditor in respect of such debt or duty, whether such judgment, specialty or other security, shall or shall not be deemed at law to have been satisfied by the payment of the debt or performance of the duty, and such person shall be entitled to stand in the place of the creditor, and to use all the remedies, and, if need be and upon a proper indemnity, to use the name of the creditor in any action or other proceeding at law or in equity, in order to obtain from the principal debtor or any co-surety, co-contractor or co-debtor, indemnification for the advances made and loss sustained by the person who shall have so paid such debt or performed such duty, and such payment or performance so made by such surety shall not be pleadable in bar of any such action or other proceeding by him: Provided, that no co-surety, co-contractor or co-debtor shall be entitled to recover from any other co-surety, co-contractor or co-debtor, by such means, more than the just proportion to which, as between those parties themselves, such last-mentioned person shall be justly liable.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Debts of infants 5. No action shall be maintained whereby to charge any person upon any promise made after full age to pay any debt contracted during infancy or upon any ratification after full age of any promise or simple contract made during infancy, unless such promise or ratification is made by some writing signed by the party to be charged therewith. Mercantile Law (1997 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Action on representation, etc. 6. No action shall be brought, whereby to charge any person upon or by reason of any representation or assurance made or given concerning or relating to the character, conduct, credit, ability, trade or dealings of any other person, to the intent or purpose that such other person may obtain credit, money or goods thereupon, unless such representation or assurance is made in writing, signed by the party to be charged therewith.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Stamps 7. No memorandum or other writing made necessary by sections 5 and 6 shall be deemed to be an agreement within the meaning of the Stamp Duty Law (1995 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Abolition of consignee\u2019s lien 8. No lien or charge shall be deemed to arise by operation or implication of law, by way of factors\u2019 or consignees\u2019 lien or otherwise, upon any pen, plantation or land or on the live or dead stock thereon or belonging to the same or on the crops or produce thereof, in respect of moneys or stores advanced or supplied to the proprietor thereof or to any other person, for the cultivation or carrying on of the same or otherwise or of any services rendered to such proprietor or other person in or about the cultivation or management of the same or the disposal of the produce thereof.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Instruments of lien to be executed, etc., as mortgages 9. Any instrument conferring any lien or charge upon any land, upon the stock thereon or belonging thereto or upon the crops or produce thereof, in favour of the consignee thereof or of any other person in respect of any moneys, stores or services as aforesaid, whether already or to be hereafter advanced, supplied or rendered, shall be duly executed by the parties whose estates or interests are intended to be charged or affected, stamped with the stamp duty payable on a mortgage and recorded in the Office of the Public Recorder within the time applicable to an instrument of that nature, and shall then, as against any conveyance, mortgage, charge or other instrument conferring any lien or charge upon the same land, stock, crops or produce, take effect according to priority of record. Mercantile Law Publication in revised form authorised by the Governor in Council this 9th day of September, 1997. Carmena H. Parsons Clerk of Executive Council\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, \"lifecycle\": {\"source\": \"#cilegis\", \"eventRef\": [{\"eId\": \"e_commence_1997_01_01\", \"date\": \"1997-01-01\", \"type\": \"generation\", \"source\": \"#cilegis\"}]}, \"references\": {\"source\": \"#canary\", \"TLCRole\": [], \"TLCEvent\": [{\"eId\": \"ev_commencement\", \"href\": \"\/akn\/ontology\/canary\/event\/commencement\", \"showAs\": \"commencement\"}], \"TLCPerson\": [], \"TLCConcept\": [{\"eId\": \"inForce\", \"href\": \"\/akn\/ontology\/canary\/concept\/temporal\/in-force\", \"showAs\": \"in force\"}], \"TLCProcess\": [], \"TLCLocation\": [], \"TLCOrganization\": [{\"eId\": \"cilegis\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\", \"showAs\": \"Cayman Islands legislation mirror (kyleg)\"}]}, \"temporalData\": {\"source\": \"#cilegis\", \"temporalGroup\": [{\"eId\": \"tg_inforce_1997_01_01\", \"timeInterval\": [{\"end\": null, \"start\": \"#e_commence_1997_01_01\", \"duration\": null, \"refersTo\": \"#inForce\"}]}]}, \"classification\": null, \"identification\": {\"source\": \"#cilegis\", \"FRBRWork\": {\"FRBRuri\": \"\/akn\/ky\/act\/1964\/97\", \"FRBRdate\": [{\"date\": \"1997-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/1964\/97\/!main\", \"FRBRalias\": [{\"name\": \"cmsId\", \"value\": \"1964-0097\"}], \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRnumber\": \"97 of 1964\", \"FRBRcountry\": \"ky\", \"FRBRsubtype\": \"principal\"}, \"FRBRExpression\": {\"FRBRuri\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01\", \"FRBRdate\": [{\"date\": \"1997-01-01\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01\/!main\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRlanguage\": \"eng\"}, \"FRBRManifestation\": {\"FRBRuri\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01.xml\", \"FRBRdate\": [{\"date\": \"2026-06-22\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/1964\/97\/eng@1997-01-01.xml\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRformat\": \"application\/xml\"}}}, \"name\": \"act\", \"header\": {\"title\": \"Mercantile Act\", \"actNumber\": \"97 of 1964\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nMERCANTILE LAW\n\n(1997 Revision)\nSupplement No. 6 published with Gazette No. 6 of 16th March, 1998.\n\nPage 2\nRevised as at 9th day of September, 1997\nc\n\nPUBLISHING DETAILS\nRevised under the authority of the Law Revision Law (19 of 1975).\n\nOriginally enacted (as the Mercantile Law (Amendment) Law)-\n\nCap. 97-1st January, 1964\n\nRevised this 9th day of September, 1997.\n\nMercantile Law (1997 Revision)\nArrangement of Sections\n\nc\nRevised as at 9th day of September, 1997\nPage 3\n\nCAYMAN ISLANDS\n\nMERCANTILE LAW\n(1997 Revision)\nArrangement of Sections\nSection\nPage\n1.\nShort title ...................................................................................................................................5\n2.\nConsideration for guarantee ......................................................................................................5\n3.\nGuarantee to a firm to cease on a change in firm .......................................................................6\n4.\nSurety entitled to assignment of securities .................................................................................6\n5.\nDebts of infants ..........................................................................................................................6\n6.\nAction on representation, etc. ....................................................................................................7\n7.\nStamps ......................................................................................................................................7\n8.\nAbolition of consignee\u2019s lien .......................................................................................................7\n9.\nInstruments of lien to be executed, etc., as mortgages...............................................................7\n\nMercantile Law (1997 Revision)\nSection 1\n\nc\nRevised as at 9th day of September, 1997\nPage 5\n\nCAYMAN ISLANDS\n\nMERCANTILE LAW\n(1997 Revision)\nENACTED by the Legislature of the Cayman Islands.\n1.\nShort title\n1.\nThis Law may be cited as the Mercantile Law (1997 Revision).\n2.\nConsideration for guarantee\n2.\nNo special promise, to be made by any person to answer for the debt, default or\nmiscarriage of another person, being in writing, and signed by the party to be\ncharged therewith or some other person by him thereunto lawfully authorised, shall\nbe deemed invalid to support an action, suit or other proceeding to charge the\nperson by whom such promise shall have been made, by reason only that the\nconsideration for such promise does not appear in writing or by necessary inference\nfrom a written document.\n\nSection 3\nMercantile Law\n\nPage 6\nRevised as at 9th day of September, 1997\nc\n\n3.\nGuarantee to a firm to cease on a change in firm\n3.\nNo promise to answer for the debt, default or miscarriage of another made to a firm\nconsisting of two or more persons or to a single person trading under the name of a\nfirm, and no promise to answer for the debt, default or miscarriage of a firm\nconsisting of two or more persons or of a single person trading under the name of a\nfirm, shall be binding on the person making such promise in respect of anything\ndone or omitted to be done after a change shall have taken place in any one or more\nof the persons constituting the firm or in the person trading under the name of a\nfirm, unless the intention of the parties, that such promise shall continue to be\nbinding notwithstanding such change, shall appear either by express stipulation or\nby necessary implication from the nature of the firm or otherwise.\n4.\nSurety entitled to assignment of securities\n4.\nEvery person who, being surety for the debt or duty of another, or being liable with\nanother for any debt or duty, shall pay such debt or perform such duty, shall be\nentitled to have assigned to him or to a trustee for him, every judgment, specialty or\nother security which shall be held by the creditor in respect of such debt or duty,\nwhether such judgment, specialty or other security, shall or shall not be deemed at\nlaw to have been satisfied by the payment of the debt or performance of the duty,\nand such person shall be entitled to stand in the place of the creditor, and to use all\nthe remedies, and, if need be and upon a proper indemnity, to use the name of the\ncreditor in any action or other proceeding at law or in equity, in order to obtain from\nthe principal debtor or any co-surety, co-contractor or co-debtor, indemnification for\nthe advances made and loss sustained by the person who shall have so paid such\ndebt or performed such duty, and such payment or performance so made by such\nsurety shall not be pleadable in bar of any such action or other proceeding by him:\nProvided, that no co-surety, co-contractor or co-debtor shall be entitled to recover\nfrom any other co-surety, co-contractor or co-debtor, by such means, more than the\njust proportion to which, as between those parties themselves, such last-mentioned\nperson shall be justly liable.\n5.\nDebts of infants\n5.\nNo action shall be maintained whereby to charge any person upon any promise\nmade after full age to pay any debt contracted during infancy or upon any\nratification after full age of any promise or simple contract made during infancy,\nunless such promise or ratification is made by some writing signed by the party to\nbe charged therewith.\n\nMercantile Law (1997 Revision)\nSection 6\n\nc\nRevised as at 9th day of September, 1997\nPage 7\n\n6.\nAction on representation, etc.\n6.\nNo action shall be brought, whereby to charge any person upon or by reason of any\nrepresentation or assurance made or given concerning or relating to the character,\nconduct, credit, ability, trade or dealings of any other person, to the intent or\npurpose that such other person may obtain credit, money or goods thereupon, unless\nsuch representation or assurance is made in writing, signed by the party to be\ncharged therewith.\n7.\nStamps\n7.\nNo memorandum or other writing made necessary by sections 5 and 6 shall be\ndeemed to be an agreement within the meaning of the Stamp Duty Law (1995\nRevision).\n8.\nAbolition of consignee\u2019s lien\n8.\nNo lien or charge shall be deemed to arise by operation or implication of law, by\nway of factors\u2019 or consignees\u2019 lien or otherwise, upon any pen, plantation or land or\non the live or dead stock thereon or belonging to the same or on the crops or\nproduce thereof, in respect of moneys or stores advanced or supplied to the\nproprietor thereof or to any other person, for the cultivation or carrying on of the\nsame or otherwise or of any services rendered to such proprietor or other person in\nor about the cultivation or management of the same or the disposal of the produce\nthereof.\n9.\nInstruments of lien to be executed, etc., as mortgages\n9.\nAny instrument conferring any lien or charge upon any land, upon the stock thereon\nor belonging thereto or upon the crops or produce thereof, in favour of the\nconsignee thereof or of any other person in respect of any moneys, stores or services\nas aforesaid, whether already or to be hereafter advanced, supplied or rendered,\nshall be duly executed by the parties whose estates or interests are intended to be\ncharged or affected, stamped with the stamp duty payable on a mortgage and\nrecorded in the Office of the Public Recorder within the time applicable to an\ninstrument of that nature, and shall then, as against any conveyance, mortgage,\ncharge or other instrument conferring any lien or charge upon the same land, stock,\ncrops or produce, take effect according to priority of record.\n\nSection 9\nMercantile Law\n\nPage 8\nRevised as at 9th day of September, 1997\nc\n\nPublication in revised form authorised by the Governor in Council this 9th day of\nSeptember, 1997.\nCarmena H. Parsons\nClerk of Executive Council","akn_extracted_at":"2026-06-22 15:34:56.582427+00","cms_id":"1964-0097","law_type":"principal","year":"1964","number":"97","title":"Mercantile Act","status":"in_force"},"provenance":{"files":[{"file_id":"4922","expr_id":"117","kind":"akn_xml","filename":"1964-0097_1997 Revision.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.akn.xml","content_md5":"e396ebed1d058d3b9133c8cc03ee7955","byte_size":"9289","http_last_modified":null,"fetched_at":"2026-06-22 15:34:56.809888+00"},{"file_id":"233","expr_id":"117","kind":"pristine_pdf","filename":"1964-0097_1997 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.pdf","content_md5":"c52af9cadbe6c57a0b73168ac745b329","byte_size":"458573","http_last_modified":null,"fetched_at":"2026-06-21 23:09:36.208796+00"},{"file_id":"234","expr_id":"117","kind":"working_pdf","filename":"1964-0097_1997 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/1964\/1964-0097\/1964-0097_1997 Revision.pdf","content_md5":"c52af9cadbe6c57a0b73168ac745b329","byte_size":"458573","http_last_modified":null,"fetched_at":"2026-06-21 23:09:36.208796+00"}],"paragraph_count":4,"latest_history":null},"quality":{"expr_id":"117","doc_id":"117","quality_state":"needs_review","quality_score":"84","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise}","llm_categories":"{other}","repair_actions":"{collapse_duplicate_text,manual_review,strip_page_furniture}","finding_severity_counts":"{\"low\": 1}","finding_summary":"Stray character 'c' likely OCR noise; otherwise text appears complete with proper front matter and section listing.","assessed_at":"2026-06-22 15:29:45.131554+00","updated_at":"2026-06-22 15:29:45.131554+00"}}