Please forward this error screen to sharedip-10718044127. Law today is where software was template for essay writing pte the 1950s: getting ready to make the jump from macros to compiled languages.
Legalese is an open-source project to draft legal documents the way modern programmers develop software. Verilog allows programmers to draft circuits, Legalese’s L4 language will allow programmers to draft contracts. ESOPs and vesting, all compiled from high-level expressions. Law today is where software was in the late 1950s: getting ready to make the jump from macros to compiled languages.
Because few lawyers have the coding skills to draft their own smart contracts, computer programmers would play a larger role, creating new liability questions for faulty algorithms and even ethical issues regarding the practice of law by non-lawyers. Conceivably, smart contracts could reduce some legal cost around contract execution and dispute resolution by making execution automatic. However, legal cost could shift from execution to the drafting phase. By requiring parties to strictly commit, at the outset, to decisions of a smart contract, the need for transactional attorneys and others to structure smart contractual relationships may increase. Parties would most likely want to specify a more detailed range of contingencies and outcomes ahead of time before committing themselves to abide by the decisions of a software-driven contract.