Sometimes I try to enter an inn or guild and I get the 'lock nothing to fear' message..

Is the only way around this is to keep loitering until its daytime?

How do I check my encumbrence level?

Do silver and elven weapons work on the undead?

Do books teach you skills?

1.) Click on the compass (right side) you will get the time, date and your health status.

2.) Yes.

3.) Click on the portrait (left side) you will get the how much you are carrying, amount of gold and your inventory.

4.) Yes.

5.) I think so, but could be confused with Morrowind.....

JimC

Any way to tell the time in Daggerfall?
Press i or click on your compass in the toolbar.

Sometimes I try to enter an inn or guild and I get the 'lock nothing to fear' message..
Is the only way around this is to keep loitering until its daytime?
Yes, the store/guild is closed. Press F3 to go to info mode and click on the store again and you will get their hours. If you have to wait a long time it's easier to just find a nearby inn and sleep for a while (loitering for 3 hours at a time gets annoying).

How do I check my encumbrence level?
F5 takes you to the character sheet.

Do silver and elven weapons work on the undead?
You need silver or better to hit ghosts and wraiths, mithril or better for liches.

Do books teach you skills?
No, but many will hint towards other interesting things.