Who actually has legal rights to Palestine? Part 2

Now that we've established the legal framework in place before the creation of the State of Israel, we can discuss the agreements, rights and obligations which followed it, particularly UN Security Council Resolution 242.
(If you haven't read Part 1 yet, I highly recommend it, it's good for your health)

Is Israel always in the UN's cross hairs?

United Nations Security Council Resolution 242 does not call for the return to 1967 borders

I assume most of you were already familiar with this concept. Still, it never hurts to be reminded of the context around this resolution. There are many points of discussion in regards to this resolution:

• Does every single word matter?
• Which version actually counts, the English or the French version?
• Is this resolution legally binding?

Who actually has legal rights to Palestine? Part 1

With all this media frenzy about the Palestinian unilateral state bid at the UN this coming week, does anyone ever stop to think whether this move will have any legal ramifications? What's more, does anyone even care what previous commitments state and what they oblige their parties to uphold?

Well, the Mainstream Media (MSM) sure doesn't. Furthermore, President Abbas knows very well that the MSM has a selective amnesia when it comes to these subjects, and he exploits that to the max.

Why yes, contracts are legally binding. Unless you signed a contract with Israel obviously.

Points to keep in mind which we'll be developing in this post:

• United Nations General Assembly Resolutions are not legally binding.
• Rights in regards to Jews and Arabs in Palestine were created in International law during the British Mandate of Palestine (in other words, a long time ago)
• United Nations Security Council Resolution 242 does not call for the return to 1967 borders
• Israel and the Palestinian Authority signed legal agreements, or contracts, which give both parties not only rights but also obligations.

United Nations General Assembly Resolutions are NOT legally binding.

Wait, what? No way.