This allows, for example, mortgage securitization — the most complex transaction an average family will ever engage in is, if within norms, simple enough to model as an atom and build on top of.
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There are a number of companies doing high frequency lawyering if you squint at them, often successfully hidden as an implementation detail.
@AngelList is particularly impressive with regards to this; they’ve all but automated spinning up funds, which is Very Nontrivial (TM).Show this thread
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It’s not until terms are realized as relatively unambiguous (legal) language that lack of agreement becomes evident, so it looks like you're paying for lawyer-as-implementor or lawyer-as-translator. It's actually lawyer-as-advisor, or lawyer-as-negotiator, or lawyer-as-therapist.
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My experience as a consumer of legal services is that when your terms are standard, your lawyer(‘s paralegal) cheaply customizes boilerplate. If your counterparty provides the document and their lawyer is in the same community, your lawyer easily recognizes the boilerplate.
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Nice term "high freq lawyering". Isn't this what ethereum is trying to achieve in a sense?
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Exceptions that use the escape hatch of full expensive legal services are when a party or lawyer is grabby or amateur, or when the difficulty is in negotiating the terms, not in rendering those terms into legal documents.
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