Sweepstakes That Require Consideration Are Usually Illegal

question 69

True/False

Sweepstakes that require consideration are usually illegal.

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Definitions:

International Monetary Fund

An international organization designed to foster global monetary cooperation, secure financial stability, and facilitate international trade among its member countries.

Founded

The act of establishing something, such as a company or organization, often marking its beginning.

Bretton Woods System

A monetary management system established in 1944 which set up fixed exchange rates for major currencies, with the US dollar convertible to gold, and led to the creation of the IMF and World Bank.

Fixed Exchange Rates

A system where the value of a currency is pegged to another currency, a basket of currencies, or a commodity such as gold, and does not fluctuate in the foreign exchange market.