James I accepts terms of a 'Great Contract' between crown and Parliament, in which they would grant him an annual sum of £200,000 in return for the abolition of feudal tenures and wardships. However, negotiations founder as a result of disputes about purveyance, the Crown's right to requisition goods and services for its own use.
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54 words
Citation: Editors, Litencyc. "James I accepts the terms of the Great Contract". The Literary Encyclopedia. First published 01 February 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=15679, accessed 10 May 2024.]
