Res 242 says what it says, and what it says is this: PEACE requires that two "principles" are met: (1) Israel ends its occupation of territory seized in the Six Day War and (2) every state recognizes (not "negotiates", but "recognizes") everyone else's borders.
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Paris climate activists plan human chain on global day of action (Reuters)
from the article: Obama: Israeli-Palestinian deal possible, will be implemented in stages