Agreement Uses


If, within the three-month period referred to in point 3, a Member has not reached an agreement with the Fund, the Fund shall use the currencies of other Members allocated to it in accordance with point 2(d) to exchange the currency of that Member which is allocated to other Members. Any currency which is granted to a Member which has not reached an agreement shall be used as far as possible to exchange its currency, which shall be granted to Members which have concluded agreements with the Fund in accordance with point 3. Where a contract is based on an unlawful aim or is contrary to public policy, it is against the law. In the 1996 Canadian case Royal Bank of Canada v. Newell,[118] a woman forged her husband`s signature and her husband agreed to assume “all responsibility and responsibility” for the forged checks. However, the agreement was not enforceable, as it was supposed to “stifle prosecution” and the bank was forced to return payments made by the husband. Some treaties are subject to multilateral instruments that oblige an unelected court to dismiss cases and require recognition of judgments rendered by courts on the basis of a jurisdiction clause. For example, the instruments of the Brussels regime (31 European states) and the Hague Agreement on the courts (European Union, Mexico, Montenegro, Singapore), as well as several legal acts relating to a particular area, may require courts to enforce and recognise choice clauses and foreign judgments. There may be circumstances in which it would be unfair to allow the defaulting party to simply redeem the victim with damages.