If you missed it, James Daily of Law and the Multiverse did a great analysis of the contract Bilbo Baggins signs in The Hobbit. More specifically, he's analyzing the much more elaborate one they came up with for the movie. The contract in the book, or at least the excerpts that appear there, are pretty short. The one in the movie is more than five feet long when unfolded (and so taller than any of the parties to it).
It includes, among other things, a number of waiver clauses, a confidentiality clause, a provision for mandatory arbitration, and (one thing that is in the book's version) a provision for basic funeral expenses.
