In the versions of the story if they didn't execute that point Van Halen's roadie would go on the warpath and go through everything to determine stuff was done correctly, so I mean the point was not that they read the contract? No one cares if you read the contract, they care that you do what is in the contract - of course doing what is in the contract requires that you read it first, but it is the doing that people care about. If you have not done the M&Ms correctly you have not read the contract that means you could not have done the important things they require.