The Wayne State Taft Transactional Law Competition is one of the premier skill-building courses for Wayne Law students, providing invaluable experience in transactional practice. 

About the course

In this course, students work in teams of two, acting as counsel for either the buyer or seller in a business acquisition. Each team advises its client, drafts questions for clients, prepares an agreement (such as an amendment to a purchase agreement or a letter of intent), completes a mark-up of opposing counsel's document, and then negotiates the agreement on competition day. The negotiation sessions are the highlight of the course, with Metro Detroit M&A attorneys graciously serving as the judges. These judges provide individualized feedback and evaluate which teams represented their clients most effectively based on various guidelines and client-specific objectives. Students are also assessed on their drafting skills. The winning teams, if they choose to do so, may enroll in the winter semester of the course, representing Wayne Law at the national Wayne State Taft Transactional Law Invitational or other transactional law competitions. The drafting winners may assist the negotiation teams in preparing for the national competition, including drafting required documents and conducting practice negotiation rounds. 

The course is offered as a one-credit fall class, with most of the work done independently by teams in an attempt to simulate real-world practice. The course is graded on a Pass-No Credit basis. Students must have completed or be enrolled in Corporations for the fall semester. Notably, there are three to five in-class/virtual sessions taught by Professor Zacks, covering basic, yet essential mergers and acquisitions concepts. Throughout the semester, the chairpersons are available to assist students as they prepare for the competition and will conduct mock negotiation sessions for students to observe. 

Fall 2024 In-house Competition

The Fall In-House Competition will be held on Friday, November 15th, 2024.