The Bretton Woods Agreement Resulted in the Establishment of What

question 56

Multiple Choice

The Bretton Woods agreement resulted in the establishment of what two organizations?

• A)World Bank and International Monetary Fund
• B)European Union and World Bank
• C)International Monetary Fund and World Trade Organization
• D)European Union and World Trade Organization
• E)International Monetary Fund and European Union

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Definitions:

Unconscionable

A term applied to a contract in which one party has so much more bargaining power than the other party that the powerful party dictates the terms of the agreement and eliminates the other party’s free will.

Constructive Trust

An equitable trust imposed on a person who wrongfully obtains or holds legal right to property he or she should not possess.

Equitable Trust

A fiduciary relationship wherein one party, known as the trustee, holds assets for the benefit of another party, the beneficiary, according to equitable principles of fairness.

Implied-In-Fact

A contract formed by non-verbal conduct, rather than explicit words, indicating that both parties intend to be bounded.