Very interesting point... I'd add to it that not only do we have to trust the coder who created the contract but he'll also be very expensive.  He has to be trained as BOTH a lawyer and a programmer.  Two of the most expensive professions out there and he basically needs to be an expert in both or you need to hire both to work together.

I guess you could argue there will likely be some standard contracts out there and users could pick and choose clauses they want to see.  That could kind of work.. but forget about any kind of customization, which seems to be pretty typical.