
, no it's not, not necesarily at any rate. a contract is an agreement, nothing more. it can be verbal or written down.
true, it can say absolutely anything. but just because a contract is agreed (in writing, with signatures etc) does not make it legally enforceable.
Not all agreements are enforceable.
it's quite possible to form a legally binding contract which contains some terms which are unenforceable.
to be fair until someone takes a situation like this to the courts we don't really know.
i still suspect that as UK students are now self financing, they would have a legal claim to the IPR on their own work, but only the courts can decide.
i suppose a student could attach a GNU licence to all submitted code. do you think that the uni's would still have a claim if they did that?