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I am developing mobile based social network with backend and I cache some data from facebook. I asssume I should include a kind of Terms of use and privacy policy statement in the application? is it really neccessary? where can I find proper templates for this?

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Yes

It helps you protect against legal consequences. It helps you to limit your damages. It's a legal contract that your users agrees before using the platform.

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  • THanks, and where can I find sample documents? – Vladimir Stazhilov Jun 5 '13 at 16:03
  • check out any service that requires login, check out facebook, google terms, etc. You can find at the bottom of this page as well legal stackexchange.com/legal – ankitjaininfo Jun 6 '13 at 8:25

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