At one extreme, there are high-volume, low-text transactions like payments.  At the opposite extreme is the acquisition of a company.  An acquisition, of course, requires many records, but we can frame it with a single one - a transaction term sheet.  

This six minute video shows the American Bar Association's "Model Stock Purchase Agreement" in codified form, complemented by a term sheet of parameters.  This term sheet is not a smart contract, but it is easy to see that much of it could be automated, or at least supported by automation.  

A smart contract approach to acquisition agreements could drive codification of business operations - leading ultimately to a company-as-object.