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if Joe and Jane, or, Joe and Jack, or, Jane and Jackie are making successful runs of their lives together, government (as arbiter and as big stick of 'the people') is not needed
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Hence no need for the contract part? But if you need a contract, it's not worth
anything unless the law fully recognizes it.
This happens all the time in real life. Let's say you have a pre-nuptial contract with your spouse, and it is a written agreement that you both have signed, but it's not witnessed and/or notarized. Well, you may feel free to divorce your spouse with no consideration of that piece of paper, because that contract will not be recognized. You don't even have to go to arbitration. Your spouse's lawyer will look at it and say, sorry, none of this applies.