@iamaboringperson
You are correct in that there are various ways for a contract to be made. IANAL, so I'm not sure on the exact conditions, but I find it hard to believe that the EULA-style "click an Okay button" would count.
For starters, there's no evidence that the user properly understood what he's agreeing to, and indeed, that he is agreeing to something. If I'm signing my name, that's widely known to be a method of signing a contract. If I go to a website, select "Purchase", then type in my debit card number, it's pretty clear that I was fully consenting to want to make a contract of purchase. In a verbal contract, the people involved can make clear in words that they both agree to the terms. With an EULA, the user may not agree with the terms at all, and I don't think the fact that the user is using the software is any proof *since he is fully entitled to use his legally purchased software, without having to agree to any post-purchase conditions*.
Furthermore, there's the fact that you are forced to click the "I agree" button in order to use the software, so it's not really a contract entered into freely and without coercion.
What if I block someone's way and say "If you walk past me, you agree to pay me £100", or perhaps put a sticker on my head saying "Anyone who shakes my hand must pay me £10 a week for the rest of their life". These seem silly examples, but I'm finding it hard to see how these differ from EULAs. Indeed, if EULAs are found to be legally enforceable anywhere, then I'm writing software that sticks "You agree to pay me lots-of-money" in the installer - I'm sure I'll get quite a few people who don't read the small print;)
Lastly there are other reasons why the EULA can never have been considered to be agreed too, for example if the user does a manual installation (or somehow bypasses that bit of the installation), or if someone else installs it for him.
A lot of people seem to be emphasing that a EULA is a License - may I also remind people that the A stands for Agreement, so without free agreement from both sides, there is no EULA.