Palm trees are known as monocotyledons which makes them more closely related to grass or flowering plants than trees, they don’t have the wood that makes a tree a tree. Instead they have a stingier more fibrous interior. If you cut the bud off a plant before it flowers, it can no longer produce a flower. Palm trees work very much in the same way with their leaves (fronds) are part of an ever-flowering bud. If you remove the top of a palm tree they will not continue to grow. The stump will dry out and die.