The 2023 Wayne State Jaffe/Taft Transactional Law Competition will be held at the office of Taft Stettinius & Hollister in Southfield today, March 24, from noon to 5 p.m. This year’s invitational will feature almost 50 law students competing from 19 law schools, reflecting a strong interest in the Invitational and practice of transactional law.
The Invitational is recognized by students and guest attorney judges as a unique experience for law students interested in transactional law. Student competitors cite the competition as one of their most important and valuable law school practical experiences.
During the competition, students prepare for this competition over the course of the semester and are tasked with representing either a buyer or seller in a fictional business transaction. The teams are presented with a case study and must draft an agreement in accordance with the needs of their client. This year’s participants will be tasked with drafting an indemnity agreement needed to be executed in connection with a stock purchase agreement. Teams will also be required to review and mark-up the opposing party’s agreement. The competition is concluded through a live negotiation between the buyer and seller teams. Panels consisting of two to three judges comprised of practicing transactional attorneys will observe and evaluate the performance and drafting efforts of the various buyers’ and sellers’ counsels. After each negotiation round, the judges will grade the teams and then offer feedback to each team of student competitors.
“We are proud to support the Wayne State Jaffe/Taft Transactional Law Invitational and the resulting growth and development of business-minded law graduates from Wayne Law,” Wayne Law alumnus and Taft attorney Justin Hanna said. “The eager and reliable judging support from experienced M&A lawyers in Michigan underscores the industry’s appreciation for the practical experience and education provided to the students. Professor Eric Zacks and his team of student competition chairpersons continue to improve and expand the impact of the competition on the training and maturation of Wayne Law’s graduates, and the competition has helped to advance and enhance the competitive quality of Wayne’s business law graduates both regionally and nationally."
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