End User License Agreements, is it possible?

Quite often when you install software they will have a long legal notice. I'm pretty sure about 99.99% of people just click Next and don't take the time to read it. The legal notice often say something to the effect of "By clicking Agree you agree to this". I know that many important legal documents require notarization and other measures to ensure legitimacy, but somethings do not. By clicking a button could you actually be unknowing entering a binding contract or agreeing to something they you certainly would not want to? If typing your name and/or clicking "I Agree" constitutes a signature (or something equivalent), could the computer serve the function of someone notarizing a document (or someother safeguard) actually making the document agreement and causing you sign away your car or home? Also would a Judge just throw out a case like this, or would it actually hold up?