This is the finished notes for you.
Summarised and put into more understandable language. It was far too complicated in the original!
The main problem with the Bible is that it can be interpreted in many ways. As John Locke once said, when people study the Bible, "the scriptures [are treated] like a nose of wax, to be turned and bent, just as may fit the contrary orthodoxes of different societies." People read into the Bible what they can, making interpretations to suit their own beliefs.
This problem cannot be avoided by simply repeating Biblical texts. It must always be remembered that the Bible has been translated countless times from the original languages, and thus there could easily be areas which are "lost in translation." For example, the Aramaic word for "on" is the same as the word for "by", so it could have been that "Jesus walked by the water". The study of the interpretation of the Bible (exegesis) and the application of the texts is what "hermeneutics" refers to, and is consequently fundamental for all Christian theology.
When studying the Bible, there are seven factors to bear in mind:
1. The Bible is not one book, but several. Not only does it contain different forms of literature (law, historical accounts, poetry, letters, gospels and so on) its materials express a range of opinions that do not always agree. For example, the Deuteronomic historians sought to show how the justice of God is realised as the righteous prosper and the wicked suffer; the Book of Job goes against this entirely. Thus, all interpreters must be extremely cautious when referring to a "teaching of the Bible", ensuring that different documents do agree on a point before stating it. This point also means that certain terms, such as "soul" and "the Holy Spirit" may mean different things in different sections.
2. Whilst certain parts of the Bible, particularly legal documents, have been carefully drafted and tailored so that they convey a very clear meaning, much of it has not been so carefully prepared. Some of the prophetic books have been constructed from fragments, and Paul's letters, with the possible exception of Romans, were occasional pieces intended for specific occasions. It was never anticipated that, thousands of years later, scholars would submit them to minute analysis to find theological significance in their specific choice of words or grammatical forms. It is better to see these entries in the Bible as being written by non-professionals to meet some immediate need and with some immediate purpose in mind. To treat the Bible in the direct-word-of-God, infallable and irrefutable way that some people do nowadays can be foolish and ill-advised.
3. The Bible is and always was a collection of religious writings, not a direct account. Genesis is not a cosmological record of the start of the Universe, it is a claim based on faith and what was known at the time. The so-called "historical books" of the Old Testament are not unbiased accounts of what happened, but expressions of religious concern about obeying the will of God in history. The Gospels are not neutral biographies which seek to describe their subject in an unbiased fashion; they are the products of and seek to evoke passionate commitment to Jesus as the Christ. The story of Jesus is intended to present good news and the call to faith. Therefore, the Bible must always be considered as a book to communicate and justify religious convictions.
4. Biblical materials were written by an already-believing community, and were based on their beliefs at the time. What was written reflected the needs and concerns of the community, in order to offer a valuable contribution to the guiding of that community's life. What we have as the Bible today has been composed from selected materials available, a patchwork of writings tailored to fit the community it was created in. It should not be assumed that we still have the same beliefs and needs of that community, and thus we should not interpret the Bible in the same way. We may need to reflect further on our faith as it stands now before we can understand the Bible.
5. The Bible was written over a long time. The Old Testament was written thousands of years before the New, and the various cultural influences of the periods when each section was composed will have had an effect on the content. For example, sections of the Old Testament were written by Jewish theologians who had most of their lives to reflect on the meaning of God's interaction with humanity, whereas a large majority of the New Testament was written when Christians were still trying to sort out what the coming of Jesus meant to their faith.
6. The points expressed in the Bible were based upon a mature experience of life, so it can be said that one must also have a mature understanding of life and faith before being able to appreciate the Bible fully. It is not a code of conduct which can be safely presented to immature people, for the demands of freedom and love may be too much for them. Initially, they need something that provides clear moral rules and suggests that happiness comes from following them. This is why many primary schools teach a simplified version of faith, and this has bled over to church sermons. One must move past this immature state to fully comprehend the meaning of the Bible.
7. The Bible is not to be regarded as a sacred book. In the Muslim faith, the Qur'an is the uncreated Word of God which existed before the creation of the world, brought into being through the Prophet. The Bible is not such a creation. For Christians, God alone is Holy, and the regarding of anything else as a holy object is a sin. Thus, the Bible is not holy. It was written by man, and not the Direct Word of God. The Bible is merely a tool with which Christians can try to understand the God that it describes.
Hope you found that useful. It certainly confused the hell out of me, but I understand a bit more now.