The agreement created the World Bank and the International Monetary Fund (IMF), U.S.-backed organizations that would oversee the new system. They cannot terminate a contract if the guarantees are not fulfilled, but they can possibly claim compensation for the losses suffered. 2. Where the commitment remaining after the set-off referred to in point (b) of Article XXIV(2) concerns the Fund and no agreement on the transaction is concluded within six months of the date of termination, the resigning participant shall fulfil that obligation in equal half-yearly instalments within three years of the date of termination or within a longer period set by the Fund. The participant who terminates the obligation, as the Fund may determine, shall fulfil that obligation either by the payment of a currency freely available to the Fund, or by the acquisition of special drawing rights under Article XXIV, Section 6, of the General Resources Account, or in agreement with a participant designated by the Fund or by another holder, and the offsetting of these special drawing rights ahead of the rate due. Contractual conditions are fundamental to the agreement. If the conditions of the contract are not met, it is possible to terminate the contract and claim damages. Appeal against misrepresentation. Resignation is the main means and damages are also available if a tort act is found.
To remedy this, there must be a positive interpretation of the law and the person to whom the presentation was made must have been misled by this misrepresentation and rely on it: Public Trustee v Taylor.  Contracts can be bilateral or unilateral. A bilateral treaty is an agreement by which each of the parties makes a promise or a series of promises. For example, in a contract for the sale of a home, the buyer promises to pay the seller US$200,000 in exchange for the seller`s promise to deliver ownership of the property. These common contracts take place in the daily flow of commercial transactions and, in cases where demanding or costly precedent requirements are requirements that must be fulfilled in order for the treaty to be respected. In order to obtain damages, an applicant must prove that the offence caused foreseeable harm.   Hadley/Baxendale found that the examination of foreseeability was both objective and subjective. In other words, is it predictable for the objective viewer or for parties who may have special knowledge? In this case where a miller lost production because a carrier delayed the repair of broken mill parts, the court decided that there was no damages to be paid, since the loss was not foreseeable by either the “reasonable man” or the carrier, both of whom expected the miller to have a spare part in stock. The Bretton Woods countries decided not to give the IMF the power of a world central bank.