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:
“I might be driven to sell your love for peace,
Or trade the memory of this night for food.
It well may be. I do not think I would.”
—Edna St. Vincent Millay (1892–1950)
“Law without education is a dead letter. With education the needed law follows without effort and, of course, with power to execute itself; indeed, it seems to execute itself.”
—Rutherford Birchard Hayes (1822–1893)