This form is a Release and Cancellation of Trust Agreement / Trust Indenture. All liens and encumberances created thereby are certified to be satisfied and released. Adapt to fit your circumstances.
Indenture Meaning With Examples In Philadelphia
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The earliest settlers soon realized that they had lots of land to care for, but no one to care for it. With passage to the Colonies expensive for all but the wealthy, the Virginia Company developed the system of indentured servitude to attract workers. Indentured servants became vital to the colonial economy.
By the eighteenth century, however, European indentured servants became more scarce and expensive to obtain. Fewer Europeans were willing to accept undesirable contracts in the Americas, particularly after rumors spread of the deadly conditions on American plantations.
This form of indentured servitude had a particularly prominent role in the Pennsylvania market; Philadelphia became a chief port in which redemptioner servants were procured by buyers from across and outside of the colony/state.
Some masters considered their indentured servants as personal property and made these individuals work difficult jobs before their contracts expired. Others treated slaves more humanely than their indentured servants because slaves were regarded as a lifetime investment and servants would leave within a few years.
The term comes from the medieval English "indenture of retainer"—a legal contract written in duplicate on the same sheet, with the copies separated by cutting along a jagged (toothed, hence the term "indenture") line so that the teeth of the two parts could later be refitted to confirm authenticity (chirograph).
Servants typically worked four to seven years in exchange for passage, room, board, lodging and freedom dues. While the life of an indentured servant was harsh and restrictive, it wasn't slavery.
Indentured people were numerically important mostly in the region from Virginia north to New Jersey. Other colonies saw far fewer of them. The total number of European immigrants to all 13 colonies before 1775 was about 500,000; of these 55,000 were involuntary prisoners.
A legal and enforceable contract, agreement, or instrument between two or more persons is referred to as an indenture. These manuscripts typically have perforated edges or indented sides.
It is in English. We know it is a lease because of the following characteristics: It is an indenture, that is, the top of the deed is cut in a wavy line. This indicates that the deed was made between two or more parties.
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.
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Indenture refers to a legal and binding agreement, contract, or document between two or more parties. An indenture agreement is a legally binding document or contract that establishes terms and conditions between two or more parties."Trustee" shall mean The Philadelphia National Bank or any successor to its duties under the Indenture. Includes the names of both parties to the indenture, and the length and terms of the contract. A contract between an Issuer and a Trustee (normally a commercial bank with trust powers) under which the Issuer issues Bonds and specifies their Maturities. Indentured servitude encompassed a number of conditions that legally bound an individual, voluntarily or involuntarily, to serve a master for term of years. In Philadelphia the practice of legally binding children extended. The contract called an "indenture", may be entered voluntarily for a prepaid lump sum, as payment for some good or service (e.g. An indenture, signed at the closing of the issuance of the notes, is a contract between the issuer of the notes, any guarantors of the debt and the trustee. Numbers of German servants who arrived exclusively in the fall. British?