When installing new software, most everyone skips over the End User License Agreement (EULA) screen immediately, but doing this can lead to ad-ware being installed on your computer… with your consent. EULAyzer is a nifty little program which scans license agreements for software you are installing and flags any potentially hazardous programs which may be embedded into the install package. You will be notified of any red flags and can handle them accordingly.

This explanation on EULAyzer’s site explains exactly why you need it:
License agreements can provide information about the intentions of software, and other bundled components. Have you ever installed a program, only to have your desktop taken over by advertising? It may have been noted in the license agreement that you simply clicked past. If you aren’t reading the license agreements, you have no idea what you could be agreeing to.

Download it here: http://www.javacoolsoftware.com/eulalyzer.html