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I have aother stupid question

Is it possible to edit the registration agreement in any way?

Just wanna ask before I start confusing myself

In the acp, you can edit the language variables.
member_lang to be more specific.
Look for agreement_1,agreement_2,agreement_3,agreement_4,agreement_5

Edit them accordingly.

What exactly are the differences in _1 _2 _3 _4 and _5 before I go to editing them

Those are just the different sections of the agreement. Just read the language variables, and you'll see what areas of the agreement each one refers to.
Make sure your language folder is chmodded correctly before editing them.

Ahh ok, I get it now,

Thanks to both of you