Final answer:
The Northwest Ordinance of 1787 established the process for territories in the Northwest to form a government and become states, banned slavery in these territories, and guaranteed basic rights for settlers.
Step-by-step explanation:
The Northwest Ordinance of 1787 established a comprehensive plan for the territories in the Northwest to transition into statehood. It provided a clear framework for how territories could set up a government and eventually be admitted as new states into the Union once they reached a sufficient population. The Ordinance also outlined significant principles and regulations, including the prohibition of slavery in these territories, and the incorporation of a bill of rights guaranteeing basic freedoms such as representative government, religious freedom, and trial by jury.