2. Actually, the standard would be PDF for legal documents (never understood why people send you a contract in a format that is easily editable). The tool we're currently building allows you to use our WYSIWYG to collaboratively edit documents online while keeping Markdown in the backend.
The final version of a contract is certainly PDF, but during negotiations, people must be able to make and track edits. Git has these features covered, but I just can't imagine sending a Markdown contract draft file marked "FOR DISCUSSION ONLY, NOT INTENDED AS A BINDING CONTRACT" to a typical counterparty.
I guess that your WYSIWYG editor might do the trick — it depends on the extent to which your counterparties rely on MS Office tools.
2. Actually, the standard would be PDF for legal documents (never understood why people send you a contract in a format that is easily editable). The tool we're currently building allows you to use our WYSIWYG to collaboratively edit documents online while keeping Markdown in the backend.