Just a side note but why would anyone call a "contract" to an "executable program" ?!?! A IRL contract is something static that doesn't change... that defines the rules and properties of something. Not a living thing that does things...

Another definition says "A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.". This starts to make more sense thinking of something that executes things once certain conditions are met.