Justice Cardozo noted a profound change in the law of contracts and the reduced role of formality as a requirement for contractual liability in the following quote: “The law has outgrown its primitive stage of formalismwhen the precisewordwas the sovereign talisman, and every slip was fatal. It takes a broader view today. A promise may be lacking, and yet the whole writing may be instinct with an obligation, imperfectly expressed.” Wood v. Duff-Gordon, 222 N.Y. 88 (1917). If this is true, what are the consequences for precontractual liability? Do contracts have to be very detailed in order to be enforceable?