Not generally, no. The metadata may contain some legal wording in a free-text description field, but it's up to the contract publisher. The big expensive beeple

Not generally, no. The metadata may contain some legal wording in a free-text description field, but it's up to the contract publisher. The big expensive beeple NFT metadata reads like a stream of consciousness. Folk's are having trouble understanding the idea of owning 'nothing' and 'digitally enforced scarcity', so using the concept of a house deed is probably a good analogy. It's just an electronic record at the bank, but it lets you 'own' a house. Deeds of course have a long history of standardized legal definition and regulations. NFT's... do not. Regarding contractual language vs code -- Ricardian contracts were invented for this purpose. As yet, we are not seeing Ricardian clauses appearing in smart contracts. Personally, I think that folks buying NFT's are crazy. (and I am a bitcoin advocate). This doesn't stop me from wanting to sell them (for bitcoin) ;-)