Question

Often at closing, the licensee for the seller provides the attorneys with a broker statement, which shows how much each broker should receive.

a. true
b. false

Answer 1

The statement suggesting that Proprietors in a proprietary colony had no responsibilities aside from collecting profits is false. Proprietors were responsible for the governance, law-making, defense, and general welfare of the colony.

Step-by-step explanation:

The student's question about a proprietary colony relates to the responsibilities of the Proprietors. It is addressing whether the statement 'In a proprietary colony, the Proprietors have no responsibilities except to collect the profits' is true or false. The correct option here is b. False.

Proprietors in a proprietary colony had numerous duties and responsibilities beyond just collecting profits. These responsibilities included governing the colony, creating laws, appointing officials, defending the colony, and managing relations with Indigenous peoples.

Essentially, they were tasked with maintaining the overall welfare and order of the colony. Contrary to the notion that they were only involved in profit collection, Proprietors had to ensure the success and sustainability of the colony, which required a multifaceted approach to governance and administration.