It says NOTHING about "territories in exchange for peace" Read it...then point out where is says "territories in exchange for peace" Res 242 was between STATES. The STATES were all Sovereign STATES. Sovereign STATES all have borders. The words were 'Acknowledgement of" boundaries and the (acknowledgement (same sentence) ) to live in peace within them. There is NOTHING about negotiating borders, nothing about Palestine, because the war was between the Arab States and Israel, not Palestine and Israel.
Militants loyal to Islamic State claim suicide bombings in Nigerian capital (Reuters)
from the article: Abbas must unilaterally declare Palestinian state