Since Github will allow document types other than code, such as markdown and PDF, it can make sense to use Github for managing the legal side of your API.
Using Github for the legal aspects of API operation will provide a level of transparency developers will appreciate, allowing them to download and store for their own records while being able to see the difference between each version, in a format that makes sense to them.
Just as with all other areas of an API, Github will allow you to completely manage the evolution of your API terms, privacy and branding in a way that is in sync with all the other technical and business building blocks of your API.
Consider using Github for API legal building block management.
from API Evangelist http://feedproxy.google.com/~r/ApiEvangelist/~3/Xzvfvu5pShw/