Final answer:
The statement that there is no consideration for Richard's promise to pay Charles $1,000 is false. The correct answer is false.
Step-by-step explanation:
The consideration in a contract refers to something of value that is exchanged between the parties involved. In the scenario where Charles performed services for Richard in the past, and now Richard promises to pay Charles $1,000, there is indeed consideration present. The consideration for Richard's promise is the past services that Charles has already provided. Therefore, the statement 'There is no consideration for Richard's promise' is false.
In a legal context, past consideration refers to an act or benefit which has already been given or performed before the promise or agreement was made. While in many legal systems, past consideration is not sufficient to form a valid contract, there may be exceptions in certain cases where past consideration can be recognized, especially if it was understood by both parties that payment or compensation would be made at a later date.
On the other hand, regarding a proprietary colony, the statement that Proprietors have no responsibilities except to collect profits is also false. Proprietors in a proprietary colony had various responsibilities, including but not limited to, governing the colony, establishing laws, maintaining order, and as well as managing the finances and resources of the colony. The assumption that their only role was to collect profits misrepresents the broad scope of duties that proprietors historically held.