I am on my 2nd year of teaching, & I started off with a bit of a romantic dead poets society idea of what it would be like. Just be warned Sylvester that your enthusiasm won't always be rewarded. After the 1st semester I was dead cynical and pretty much in despair at the ammount of slacking undergrads could get away with and still pass. However 2nd semester I kind of evened out as I learnt not to take it personally when students didn't engage or turn up and when a few interested ones and gifted students start to emerge it was really rewarding. Marking an essay on a lecture you have given that has captured a students imagination and you can see they have 'got it', is a great feeling.
I still think the contracts sound like a good idea. There is too much banging on about students being paying customers. Expecting a degree without doing the graft. As one commentor said online that they need to realize they are buying into a system they have to participate in