One answer has asserted that the law is not like code. I disagree.
In the early days, IBM paid programmers by the instruction. (Someone I knew said he worked with a programmer who got rich this way. Apparently the guy didn't know how to use the machine's index register; he wrote a memory-zero routine that manually stored zero in each memory address.)
There was also a time (long ago) when lawyers were paid by the word. This helped to popularise practices such as addressing people as "the most highly esteemed such-and-such" and other verbosities.
I just read an answer on SO that said VB.NET 2008 still allows line numbers. You can still run pure DOS on a modern PC. And there is much truth to the joke that all COBOL programs are decended from a common ancestor by incremental changes. Backwards-compatibility, and "historical reasons", are rife in our field.
This is comparable to the realm of law. There are laws which make small (or big) changes to other laws. You've got a kind of dependency-hell. There are some ridiculous historical laws (in Hobart, Tasmania, it's illegal for a man to wear a woman's dress after sunset - because once upon a time, convicts would dress up as women and mug people) that nobody would dream of enforcing, just as there are some historical features in software that nobody uses anymore.
Laws often have unintended consequeuences (bugs!), get used in creative ways (hacks!), contain loopholes (security vulnerabilities!), some of which are intentional (backdoors!), get modified (patches!) or overturned (uninstallation!).
Yes, laws (unlike code) are subject to interpretation. But I think this is rather like code maintenance. It helps to adjust laws to new social norms.
To answer the question directly: every developer should know that law is rather like a ridiculously enormous software project that has been in development for hundreds of years. (Actually, each country has its own project, and they solve problems in different ways.) In theory, after reading a licence you will know what you can and can't do with your code. But if a competent programmer can't spot all the bugs in his code just by reading it, then what chance does a non-lawyer have of analysing the corner cases and grey areas of a legal document?
Like with software source code, you can usually get the gist of a legal document by reading it, but if you need to know something specific, ask a professional.