  In this position paper, we consider some foundational topics regarding smart
contracts (such as terminology, automation, enforceability, and semantics) and
define a smart contract as an automatable and enforceable agreement. We explore
a simple semantic framework for smart contracts, covering both operational and
non-operational aspects, and describe templates and agreements for
legally-enforceable smart contracts, based on legal documents. Building upon
the Ricardian Contract, we identify operational parameters in the legal
documents and use these to connect legal agreements to standardised code. We
also explore the design landscape, including increasing sophistication of
parameters, increasing use of common standardised code, and long-term research.
