Wayne State University law School students Christian Sarafa and Erli Metko earned a first-place finish in the 2024 Colonial Cup Transactional Law Competition held March 30 at William & Mary Law School in Williamsburg, VA.
The team’s registration and travel was funded by the Taft Transactional Law Competition Fund and coached by Professor Eric Zacks.
"The William and Mary Colonial Cup Negotiation Competition was an amazing experience. We spent the last few months preparing, and we were excited and grateful to be a part of this competition,” said Sarafa.
The William & Mary Colonial Cup offers law students an opportunity to draft and negotiate a business transaction based on real-life examples.
Student teams, representing either the buyer or seller, draft a proposed agreement before negotiating the terms with an opposing team. Wayne Law competed against teams from across the nation that competed in the two rounds of negotiation, in an attempt to finding a deal that provided value on both sides.
For Wayne Law, Sarafa and Metko investigated the buyer’s side of a merger/acquisition. “We first did our own research based on the prompt and then drafted an agreement that fell in line with our client’s desired outcome. We then sent our agreement to be redlined, and received an opponent’s draft to redline, where we attempted to send a revised version of their agreement that would again, fall in line with our client’s desired outcome,” said Sarafa. Following that preparation, they competed – and won—in Williamsburg.
“Our students were evaluated by the practitioner judges based upon the quality of their contract drafting, professionalism, client advocacy, negotiation skills and strategy, and other discretionary points the judge could award. I am very proud of their efforts and achievement,” said Zacks.
“At the reception following the negotiations, we celebrated with the other teams and learned more about the various experiences law students from around the nation undertake. Overall, participating in the competition was an incredible experience," said Sarafa.
“The opportunity to broaden our horizons, connect with new professionals outside of our area, and take home the win could not have been more memorable,” he added.
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