I would love to discuss this entire process. Being a lawyer myself, very interesting in my opinion.

This looks pretty interesting! Surely makes reading contract much easier. But don't forget that, might sound evil, but sometimes contracts are designed tight so that a person reading might give up doing so or might not bother to after reading at some point. Typically this happens in the T&C every company or social network uses which is always long having jargons. They don't want you to read it you know. Also, you'll need to make sure there aren't loose ends in this format and meaning remains the same.

The most important use of a contract is in its interpretation during dispute resolution. It would be interesting to see how judicial authorities and arbitrators treat such contracts. Also, some parts of contracts might seem difficult for non-law people, however, the language has specific interpretation and years and years of precedence to give it power. Definitely evolving area, though. And an interesting take.:)