Indenture Meaning With Examples In Franklin
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In real estate, an indenture is a deed in which two parties agree to continuing obligations. For example, one party may agree to maintain a property and the other may agree to make payments on it.
Definition. Indentured servitude was a labor system where individuals signed a contract to work for a specific number of years in exchange for passage to a new land, typically the Americas, along with food, shelter, and eventual freedom.
: a written agreement : contract. 2. : a contract by which one person is made to work for another for a stated period. often used in plural. indenture.
Many youths served a term of years apart from their families as servants or apprentices. At the age of 12, Benjamin Franklin (1706-1790) was indentured to his much older brother for a nine-year term, and was only supposed to receive wages the last year.
An indenture is a particular formal contract or deed made between two or more parties. Beginning in medieval England, an indenture can be defined as a specific agreement within a contract noted with a specific duration or significance.
Reid was to receive “sufficient meat Drink and Lodging” for five years and “be taught the Art and Mystery of a merchant.” In exchange, he and his father pledged that Reid would “gladly every where obey” Livingston's “lawfull Commands” and “do no damage to his said Master,” and “not Contract Matrimony” or “absent ...
Enjamin Franklin learned to be a printer through the apprenticeship system. However, he gained his independence at age 17, not by completing his apprenticeship, but by running away from his master and leaving his family and hometown behind. He worked for wages in Philadelphia and London before setting out on his own.
Some indentured servants served as cooks, gardeners, housekeepers, field workers, or general laborers, while others learned specific trades such as blacksmithing, plastering, and bricklaying, which they often parlayed into future careers.
An indenture is a particular formal contract or deed made between two or more parties. Beginning in medieval England, an indenture can be defined as a specific agreement within a contract noted with a specific duration or significance.
Indenture. n. a type of real property deed in which two parties agree to continuing mutual obligations. One party may agree to maintain the property, while the other agrees to make periodic payments. 2) a contract binding one person to work for another.
