Allowed California to be admitted to the Union as two states - North California and South California, divided along the line of the Missouri Compromise.
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Slavery would have been permitted in these territories. (Don't know if it happened.)
That's exactly what happened, as specified by the Missouri Compromise of 1820!
The Missouri Compromise of 1850 affected Kansas & Nebraska territories. The Compromise was an extension of the one made in 1820. The idea behind the compromises was to maintain the balance of free states and slave states. Now the statehood of Kansas & Nebraska came into the mix. The consensus of Congress was that left to themselves, the people of Kansas would follow the lead of Missouri and vote to become a slave state. Also, that the people of Nebraska would vote for a "free state". Later events, such as a major conflict in Kansas & the soon to come Civil War would send the compromises into a free fall.
At the time of the Missouri Compromise, there was strong disagreement between people who were pro-slavery and those who were anti-slavery. Various territories, such as Missouri, Arkansas, and Maine, were trying to become states, but there was great concern over whether the new states would be slave states or free. The compromise mapped out which land would have slaves allowed, and which would not. In effect it gave pro-slave people the right to retain slaves and extend slavery to the west, and it gave the anti-slavery people a guarantee that slavery would not be extended into the Northwest.
They did - the Missouri Compromise. This lasted thirty years, and was only rendered impractical by the admission of California, a state that extended so far on either side of the Missouri line that both sides claimed it. If only California could have been admitted as two separate states - North and South - there needn't have been a Civil War. The Missouri Compromise was very sensible, and deserved to last.