As a lawyer, I can say that the only thing this scrips needs is a link to terms and Conditions or a box to be able to display them. Maybe it has the feature but not enabled.

With this feature, you will surely attract many people like myself.

Looking good.

Are you referring to Registration Validator (you've posted in the scripts section, so not entirely sure! )? If so, then this is outside the scope of the plugin. RV is purely antispam - it doesn't affect the registration process unless a rogue sign-up is detected. For T&Cs you need to use a registration component that supports these (e.g. CBE, Community Builder) - RV works in conjunction with whichever registration component is in use.