Trade Law : Case

This area of law relates to the rules and regulations affecting the exchange of goods and services for money that is considered to be particularly relevant to understanding international trade at a regional and world level between nations and private companies with regards to the laws (in terms of rules and tariffs) that apply in such cases and looks to provide for which jurisdiction will preside over any matter of dispute between the parties.

It is one of the fastest growing areas of international law and encompasses not only the laws derived from the World Trade Organisation (’WTO’), but also medieval commercial laws called the lex mercatoria (‘the law for merchants on land’) and lex maritima (‘the law for merchants on sea’) that has since only been furthered by the remit of the General Agreement on Tariffs and Trade (‘GATT’).

Example case for Trade Law

‘The Rafaela S’ [2002] 2 Lloyd’s Rep 403; [2003] 2 Lloyd’s Rep 113; [2005] 1 Lloyd’s Rep 347

 

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