BA's T&C's are based upon (i.e. not identical, but very similar) IATA's Recommended Practice 1726 "Conditions of Carriage". So most 'network' airlines will have something similar.
Said RP has been reviewed by the UK's OFT, and after a few minor amendments by IATA, has been judged in compliance with UK legislation (which put into effect the EU's regulation on unfair contract terms).
Of course everyone reads their airline's T&Cs, they check that box before they can buy their ticket.