Yes, we can. Maintain a SharePoint list where you will maintain your terms and condition text like checkbox and text. And develop a workflow or MS Flow to read that term condition list then format it as per your need then finally send that link to the user. This way you can maintain dashboard also on how many users has accepted the terms of conditions.
- If your requirement is just to send the link not needed for dynamic data maintenance or dashboard, then you just can create a hard coded text in the workflow email body itself.