Which part of the constitution guarantees the basic rights and freedoms of residents in the Cayman Islands?

The correct choice highlights Part 1 of the constitution, which is specifically designed to outline and protect the basic rights and freedoms of individuals residing in the Cayman Islands. This section encompasses fundamental human rights such as the right to life, freedom of expression, and protection against discrimination, among others. The Bill of Rights serves as a legal safeguard that ensures residents can enjoy these rights without arbitrary interference, effectively establishing a framework for justice and accountability.

In contrast, the other parts of the constitution address different aspects of governance and societal organization. Part 2 focuses on governance structures and the functions of government, Part 3 addresses economic policies which guide financial and economic development, and Part 4 deals with environmental conservation initiatives. While these components are crucial for the overall functioning of society, they do not specifically guarantee individual rights and freedoms, which is the primary focus of the Bill of Rights. This distinction makes it clear why the first part is the correct answer when identifying a section of the constitution that ensures the basic rights and freedoms of residents in the Cayman Islands.