LLM Master of Laws MCQ 5

Question 1

The Vienna Convention on the Law of Treaties Article 26 enshrines the principle of:

Accepted Answer

Pacta sunt servanda — treaties must be performed in good faith

Answer

VCLT Article 26 codifies pacta sunt servanda, requiring that every treaty in force be performed in good faith by the parties.

Question 2

In US employment law, the 'economic realities' test is used primarily to determine:

Accepted Answer

Whether a worker is an employee or an independent contractor

Answer

The economic realities test looks at the totality of the working relationship — especially the degree of control and economic dependence — to classify workers under the FLSA.

Question 3

Under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, a court may refuse enforcement if:

Accepted Answer

Enforcement would be contrary to public policy of the enforcing country

Answer

Article V(2)(b) of the New York Convention allows refusal of enforcement if it would be contrary to the public policy of the country where enforcement is sought.

Question 4

In US conflict of laws, the 'significant relationship' test for choice of law in contract disputes was articulated in:

Accepted Answer

Restatement (Second) of Conflict of Laws, considering the most significant relationship

Answer

The Restatement (Second) of Conflict of Laws uses a 'most significant relationship' test weighing multiple contacts to determine which state's law governs a contract dispute.

Question 5

A 'representations and warranties insurance' (RWI) policy in M&A transactions primarily benefits buyers by:

Accepted Answer

Providing coverage if the seller's representations in the purchase agreement turn out to be false

Answer

RWI policies allow buyers to make claims directly against the insurer if the seller's reps and warranties are breached, reducing reliance on seller indemnification.

LLM - Master of Laws Practice Test

LLM - Master of Laws Practice Test

LLM Master of Laws MCQ 5