International trade law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right. This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO). Since the transaction between private sectors of different countries is important part of the WTO activities, this latter branch of law is now very important part of the academic works and is under study in many universities across the world.
Read more about International Trade Law: Overview, World Trade Organization, Trade in Goods, Trade and Intellectual Property, Dispute Settlement
Famous quotes containing the words trade and/or law:
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—Robert Pirosh, U.S. screenwriter, George Seaton, George Oppenheimer, and Sam Wood. Dr. Hugo Z. Hackenbush (Groucho Marx)
“All men, in the abstract, are just and good; what hinders them, in the particular, is, the momentary predominance of the finite and individual over the general truth. The condition of our incarnation in a private self, seems to be, a perpetual tendency to prefer the private law, to obey the private impulse, to the exclusion of the law of the universal being.”
—Ralph Waldo Emerson (1803–1882)