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Smith and Jones entered into an agreement in which Smith agreed to sell is watch to Jones. The two parties wrote all the terms of
Smith and Jones entered into an agreement in which Smith agreed to sell is watch to Jones. The two parties wrote all the terms of the contract on the back of an old envelope. They both signed the agreement. When the time came to execute the contract, Jones claimed he was not bound by the terms because the law required all contracts to be formally drawn up on pre-printed documents. Was he correct? Why or why not?
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