Indenture refers to a legal and binding agreement, contract, or document between two or more parties. Indentured servitude is a form of labor in which an individual is under contract to work without a salary for a certain timeframe to repay a loan.Indentures are agreements between two parties about longterm work. Indentured servitude is a form of labor in which a person is contracted to work without salary for a specific number of years. Place yourself in the position of the son, his father, and the master in this agreement. Nine out of 10 workers on the transcontinental railroad were Chinese. The idea of indentured servitude was born of a need for cheap labor. A Contract Area is usually defined in the applicable agreement with a narrative description and a set of defined coordinate points or a plat. All terms used in this Security which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. In modern-day finance, the word indenture most commonly appears in bond agreements, real estate deals, and some aspects of bankruptcies.