I would be very surprised if their legal department thought the "basically" column was a good idea. They can say that it isn't legally binding, but that claim isn't ... err... legally binding. Everything written in a contract is equally binding, and the proximity and one-to-one mapping could make the summary column part of the contract. If either party is surprised by conflicting claims, it will be up to the judge to decide which parts of the contract are stronger.
The "basically" column is a really bad idea. The "full" column should stand on its own. If they think it is too complicated, it should be simplified.
That is the most perfectly succinct explanation for why this might be a bad idea. Well done.
Be careful not to confuse criminal law with contracts. It is fundamental to the existence of a contract that both sides understand it. That is one of the few points of law that is pretty much a universal constant, whatever jurisdiction you're in.
(IIRC there must also be two parties (otherwise it is a deed not a contract) and the parties must have "capacity" i.e. the potential to fulfill their obligations)
IANAL - probably painfully obvious to anyone who is.
Law is like code (and magic) - it is a framework that gives real world power to abstract language - maybe this is why HN is so obsessed with legal chitchat
EDIT: fixed typo.
As always, IANAL.
That's quite clear to me. If I were to try my luck in the courts, I'd be pleasantly surprised if the Judge took the "basically" column as the legal interpretation. Ignorance, as far as I'm aware, is not an acceptable legal defence (as cited by many a judge to people who neglect to pay their taxes).
The fact remains however, few people read TOS pages or privacy polices. Any attempt to change that should be applauded in my view.