Begins with value creation by transactional lawyers, and emphasizes the opportunity for lawyers to reduce information and agency costs, and mitigate strategic behavior by using tools such as disclosure, representation and warranties, incentive compensation and earnouts. Shifts to negotiation and drafting, focusing on basic drafting principles and strategies to advance one's clients' interests. Introduces the basic framework of contracts (recitals, reps, and warranties, capitalized terms, definitions, indemnifications and escrow). Prerequisites: Restricted to Law students only.