Humphrey: Just because an organization writes down on a piece of paper that this is their policy doesn't mean that they have no legal liability. To take an extreme example: Suppose the university decided that to prevent thefts, they will establish a policy declaring the right to strip-search any student before he or she is permitted to leave the building. School officials start regularly strip-searching all attractive young women. Would you seriously say that because this is a written policy, that that makes it okay? Do you think a court would reject a law suit from an offended student on the grounds that the university followed the written policy?
Businesses are sued over their company policies all the time. Some of these lawsuits I find reasonable and some I don't: You would probably say the same. But a little thought will show that you can't give yourself legal privileges just by writing on a piece of paper that you want them or make yourself immune from lawsuits just by saying you want to be. If you could, every company would just write, "We can do whatever we want to any employee, customer, or any other person at any time for any reason," and then all law suits would be forever banned.