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Master of Laws MCQ Flashcards

7 cards from real LLM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

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  1. Under WTO law, the Most-Favored-Nation (MFN) obligation in GATT Article I requires a member to:

    Answer: Extend any trade advantage granted to one country to all WTO members immediately

    MFN requires that any trade advantage, favour, privilege, or immunity granted to any country must be accorded immediately to all WTO members.

  2. In US securities law, Rule 10b-5 under the Securities Exchange Act of 1934 primarily prohibits:

    Answer: Insider trading based on material non-public information and securities fraud

    Rule 10b-5 is the SEC's broad anti-fraud rule prohibiting misrepresentations, omissions, and manipulative devices in connection with securities transactions.

  3. A 'hardship' clause in an international commercial contract typically entitles the affected party to:

    Answer: Request renegotiation when a fundamental change of circumstances occurs

    Hardship clauses, as described in the UNIDROIT Principles, entitle the affected party to request renegotiation when events fundamentally alter the equilibrium of the contract.

  4. Under the EU General Data Protection Regulation (GDPR), the 'right to be forgotten' is more precisely known as:

    Answer: The right to erasure under Article 17

    Article 17 GDPR grants data subjects the right to erasure ('right to be forgotten') in specified circumstances.

  5. In US immigration law, an L-1A visa is designed for:

    Answer: Intracompany transferees in managerial or executive positions

    The L-1A visa allows multinational companies to transfer managers and executives from a foreign affiliate to a US office.

  6. The merger doctrine in copyright law provides that:

    Answer: Copyright protection does not extend to expression when it merges with an unprotectable idea

    Under the merger doctrine, when there are only a few ways to express an idea, the expression merges with the idea and neither is protectable by copyright.

  7. A 'liquidated damages' clause is enforceable under US contract law when:

    Answer: The amount is a reasonable pre-estimate of harm and actual damages were difficult to calculate

    Liquidated damages are enforceable when they represent a reasonable forecast of compensatory damages and actual harm is difficult to estimate.