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Overview

Global trade shapes economies, geopolitics, and commercial practice. This module examines the legal architecture that governs the international movement of goods — from multilateral trade rules to the mechanics of cross-border sales and payment.

Students will explore the multilateral trading system under the World Trade Organization (WTO), including its foundations in the General Agreement on Tariffs and Trade (GATT). Core principles such as Most-Favoured-Nation treatment, National Treatment, tariff bindings, safeguards, and dispute settlement will be analysed alongside current challenges, including trade tensions, regional agreements, and reform of the WTO system.

The module then connects public international trade law with the private law framework governing international sales transactions. Students will examine contract formation, allocation of risk, remedies for breach, and the practical operation of international trade terms. Particular emphasis is placed on international trade finance, especially documentary credits (Letters of Credit), exploring the autonomy principle, strict compliance, fraud, and the role of banks in managing transactional risk.

By integrating public international law with commercial and financial practice, the module provides both doctrinal depth and practical insight. Students will develop the ability to analyse complex cross-border trade problems, understand how trade transactions are structured in practice, and critically evaluate the future of the global trading system.

The Global Trade Law module provides an advanced, integrated study of the legal framework governing international trade in goods. It begins with the evolution of the multilateral trading system from the General Agreement on Tariffs and Trade to the World Trade Organization, examining core principles such as Most-Favoured-Nation treatment, National Treatment, tariff bindings, trade remedies, and exceptions under GATT. Students analyse the structure and functioning of WTO dispute settlement and critically assess contemporary challenges, including the Appellate Body crisis and debates over reform, regulatory autonomy, and the balance between liberalisation and public policy objectives.

The module also covers international sales law and the finance of international trade. It includes detailed study of the United Nations Convention on Contracts for the International Sale of Goods (CISG), compared with English law under the Sale of Goods Act 1979, focusing on contract formation, obligations, remedies, and risk allocation in cross-border sales. In addition, students examine the legal infrastructure of trade finance, including letters of credit governed by the International Chamber of Commerce UCP 600, the autonomy principle, and fraud exceptions, alongside broader issues concerning carriage of goods, export finance, and the interaction between trade law and financial regulation.

Assessment Strategy

-threshold -C- to C+ (50-59%)· Demonstrate knowledge of key areas/principles.· Have some, if only limited, evidence of background study.· Be focussed on the question with only some irrelevant material and weaknesses in structure.· Attempt to present relevant and logical arguments.· Not contain a large number of factual errors.· Describe major links between topics.· Attempt to analyse and/or explain problems.· Be free of major weaknesses in presentation and accuracy. -good -B- to B+ (60-69%)· Demonstrate strong knowledge and understanding of most of the subject area.· Demonstrate evidence of background study.· Be well structured and focused.· Contain coherently presented arguments.· Be mostly free of factual errors.· Include some elements of original interpretation.· Describe well known links between topics.· Analyse and/or explain problems using existing methods/approaches.· Be presented to high standards with accurate communication. -excellent -A- to A* (70%+)· Demonstrate comprehensive knowledge and detailed understanding of the subject area.· Demonstrate extensive background study.· Be well structured and highly focused.· Contain logically presented and defended arguments.· Be free of factual/computational errors.· Include significant elements of original interpretation.· Demonstrate an ability to identify, develop and present new links between topics.· Include new approaches to analysing and/or explaining a problem.· Be presented to very high standards with very accurate communication.

Learning Outcomes

• Apply and evaluate complex legal principles to practical and theoretical problems in global trade.

• Critically analyse the legal and institutional framework of Global Trade.

• Critically analyse the regulation of cross-border commercial transactions.

• Evaluate the legal structures and risk-allocation mechanisms underpinning international trade.