end of trustee rule
In March 1750 the Trustees called upon Georgians to elect delegates to the first representative assembly but cautioned them only to advise the Trustees, not to legislate. Augusta and Ebenezer each had two delegates, Savannah had four, and every other town and village had one. Frederica, now practically abandoned, sent no delegate. Sixteen representatives met in Savannah on January 14, 1751, and elected Francis Harris speaker. Most of the resolutions concerned improving trade. The delegates showed maturity in requesting the right to enact local legislation, and they opposed any annexation effort on the part of South Carolina. The Trustees intended to permit further assemblies, but the failure of Parliament to vote a subsidy in 1751 caused the Trustees to enter into negotiations to turn the colony over to the government a year before the charter expired. Only four members of the Trust attended the last meeting on June 23, 1752, and of the original Trustees only James Vernon persevered to the end.
Answer:
A liquidation.
Explanation:
Liquidation can be described as a process of ending a business. It involves selling off the company entire assets inorder to settle debts.
Liquidation occurs when a company lacks sources of revenue and can no longer function properly, hence there is a need to close up the business and pay off creditors.
Bankruptcy occurs when a company is unable to pay back their outstanding. Filing for bankruptcy helps to company to make different plans on how the various debts incurred will be paid back to the various creditors.
