“Once that contract is in place, coding could provide continued support for that contract and, indeed, for similar contracts involving similar terms for similar transactions. I would even suggest the code could probably even be taught to make small alterations as long as those alterations were foreseeable and logical.
However, I am highly cynical about a code’s ability to make more complex binding/sustainable legal decisions required to build the foundations of a robust commercial contract or negotiate the best possible terms for all of the parties involved. This means that in the first instance at least, a lawyer will still need to be involved.
Also, code works on linear decision-making and probability, but more often than not, finding the right answer to settle a particular contractual nuance is a much more lateral process and requires a level of creativity and flexibility that can come only from real-life experience. To inject that depth of practical experience into code is, I would suggest, a nigh on impossible task.”
via Bitcoin Magazine, Richard Howlett, Solicitor at Selachii LLP London http://ow.ly/t6F6302gbVe