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Half of an indenture document of 1723 showing the randomly cut edge at the top. An indenture is a legal contract that reflects an agreement between two parties. Although the term is most familiarly used to refer to a labor contract between an employer and a laborer with an indentured servant status, historically indentures were used for a variety of contracts, including transfers and rents of ...
The Indian indenture system was a system of indenture by which two million [42] Indians called coolies were transported to various colonies of European powers to provide labour for the (mainly sugar) plantations. It started from the end of slavery in 1833 and continued until 1920.
During the indenture period the servants were not paid cash wages, but were provided with food, accommodation, clothing and training. The indenture document specified how many years the servant would be required to work, after which they would be free. Terms of indenture ranged from one to seven years with typical terms of four or five years. [19]
The Trust Indenture Act of 1939 (TIA), codified at 15 U.S.C. §§ 77aaa–77bbbb, supplements the Securities Act of 1933 in the case of the distribution of debt securities in the United States.
At the turn of the century, an increase in the Atlantic slave trade enabled planters to purchase enslaved labor, in lieu of bonded labor (indentured servants and convict bond servants). As demand for skilled indentured servants increased, attitudes about the institution also changed.
Colonists might indenture themselves or their relations in response to economic circumstances. For example, parents unable to financially support their children might place them under indenture, since the terms of the agreement usually specified the provisioning of "meat, drink, lodging and washing."
A penal bond is a written instrument executed between an obligor ... whose performance by the obligor would render the bond void (referred to as the indenture of ...
These bonds were continued in the year 1857 in the amount of $410,000. [9] In April 1863, after the Emancipation Proclamation, the indenture and "apprecenticeship" of Native Americans was abolish by the California Legislature. [14] The law was repealed in 1866, after the 14th Amendment was added to the United States Constitution.