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Colonial and State Records of North Carolina
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Agreement between some of the Lords Proprietors of Carolina concerning the sale of their claim to Carolina
Carolina. Lords Proprietors.
May 25, 1720
Volume 02, Pages 385-386

[B. P. R. O. Shaftesbury Papers. Bdl. 48. No. 106.]

Wednesday May 25 1720
1. The Proprietors to part with their Rights, Powers, &c. (except what they have already granted) in consideration of 250,000£
(No. 1.) Agreed to. the unserveyd 32. Baronys being given up by the Proprietors
2. In case a Charter cannot be procured to abate 20,000£ of the aforesaid sum.
(No. 2.) Agreed to on both sides.
3. The Proprs to be allowed a Liberty to subscribe into the Joynt stock a share not exceeding ¼th part of the whole
(No. 3) Agreed to
4. If the Province be disposed of All together. The Advantage over and above the purchase money paid to the Proprs to be equally divided between the Proprs and Purchasers.
(No. 4) Agreed to
5. If the Province be disposed of by subscription the Proprs to be allowed ⅓rd part of the advantage. The purchasers two Thirds
(No. 5) Agreed
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6. One Month to be allowed for taking or refusing.
(Nos. 6. & 7 & 8.) Instead of these Articles agreed that three months be allowed for taking or refusing
7. If the Purchasers accept at the months end, Then to pay down in part of Paymt the sum of 10,000£.
And that upon accepting 10,000£ be paid down.
8. The rest to be paid upon signing for which three months to be allowed.
And that the rest be paid upon signing.
9. The Lord Carteret Palatine and the rest of the Proprs to be Partys in the Governmt of the Province, and to be eight of the Managers of the Company's affairs during the term of three years
(No. 9.) Agreed