1.
Contract
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A contract is a voluntary arrangement between two or more parties that is enforceable by law as a binding legal agreement. Contract is a branch of the law of obligations in jurisdictions of the civil law tradition, Contract law concerns the rights and duties that arise from agreements. A contract arises when the parties agree that there is an agreement, formation of a contract generally requires an offer, acceptance, consideration, and a mutual intent to be bound. Each party to a contract must have capacity to enter the agreement, minors, intoxicated persons, and those under a mental affliction may have insufficient capacity to enter a contract. Some types of contracts may require formalities, such as a memorialization in writing, at common law, the elements of a contract are offer, acceptance, intention to create legal relations, and consideration. Not all agreements are necessarily contractual, as the parties generally must be deemed to have an intention to be legally bound, a so-called gentlemens agreement is one which is not intended to be legally enforceable, and which is binding in honour only. In order for a contract to be formed, the parties must reach mutual assent and this is typically reached through offer and an acceptance which does not vary the offers terms, which is known as the mirror image rule. An offer is a statement of the offerors willingness to be bound should certain conditions be met. If a purported acceptance does vary the terms of an offer, it is not an acceptance but a counteroffer and, therefore, the Uniform Commercial Code disposes of the mirror image rule in §2-207, although the UCC only governs transactions in goods in the USA. As a court cannot read minds, the intent of the parties is interpreted objectively from the perspective of a reasonable person and it is important to note that where an offer specifies a particular mode of acceptance, only an acceptance communicated via that method will be valid. Contracts may be bilateral or unilateral, a bilateral contract is an agreement in which each of the parties to the contract makes a promise or set of promises to each other. For example, in a contract for the sale of a home, less common are unilateral contracts in which one party makes a promise, but the other side does not promise anything. In these cases, those accepting the offer are not required to communicate their acceptance to the offeror, in a reward contract, for example, a person who has lost a dog could promise a reward if the dog is found, through publication or orally. The payment could be conditioned on the dog being returned alive. Those who learn of the reward are not required to search for the dog, but if someone finds the dog and delivers it, the High Court of Australia stated that the term unilateral contract is unscientific and misleading. In certain circumstances, a contract may be created. A contract is implied in fact if the circumstances imply that parties have reached an agreement even though they have not done so expressly, quantum meruit claims are an example. Carbolic, a firm, advertised a smoke ball marketed as a wonder drug that would, according to the instructions
2.
Apprenticeship
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An apprenticeship is a system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study. Apprenticeship also enables practitioners to gain a license to practice in a regulated profession, Apprenticeships typically last 3 to 7 years. People who successfully complete an apprenticeship reach the journeyman or professional level of competence. In early modern usage, the clipped form prentice was common, the system of apprenticeship first developed in the later Middle Ages and came to be supervised by craft guilds and town governments. A master craftsman was entitled to employ young people as a form of labour in exchange for providing food, lodging. Most apprentices were males, but female apprentices were found in such as seamstress, tailor. Apprentices usually began at ten to fifteen years of age, in Coventry those completing seven-year apprenticeships with stuff merchants were entitled to become freemen of the city. Subsequently, governmental regulation and the licensing of technical colleges and vocational education formalized and bureaucratized the details of apprenticeship, Australian Apprenticeships encompass all apprenticeships and traineeships. They cover all sectors in Australia and are used to achieve both entry-level and career upskilling objectives. There were 470,000 Australian Apprentices in-training as at 31 March 2012, Australian Government employer and employee incentives may be applicable, while State and Territory Governments may provide public funding support for the training element of the initiative. Australian Apprenticeships combine time at work with formal training and can be full-time, part-time or school-based, Australian Apprentice and Traineeship services are dedicated to promoting retention, therefore much effort is made to match applicants with the right apprenticeship or traineeship. This is done with the aid of aptitude tests, tips, information and resources on potential apprenticeship and traineeship occupations are available in over sixty industries. The distinction between the terms apprentices and trainees lies mainly around traditional trades and the time it takes to gain a qualification, Australia also has a fairly unusual safety net in place for businesses and Australian Apprentices with its Group Training scheme. It is a safety net, because the Group Training Organisation is the employer and provides continuity of employment and it lasts two to four years – the duration varies among the 250 legally recognized apprenticeship trades. About 40 percent of all Austrian teenagers enter apprenticeship training upon completion of compulsory education and this number has been stable since the 1950s. The five most popular trades are, Retail Salesperson, Clerk, Car Mechanic, Hairdresser, there are many smaller trades with small numbers of apprentices, like EDV-Systemtechniker which is completed by fewer than 100 people a year. The Apprenticeship Leave Certificate provides the apprentice with access to two different vocational careers, the person responsible for overseeing the training inside the company is called Lehrherr or Ausbilder. An Ausbilder must prove he has the qualifications needed to educate another person
3.
Bond (finance)
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In finance, a bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds, interest is usually payable at fixed intervals. Very often the bond is negotiable, that is, the ownership of the instrument can be transferred in the secondary market and this means that once the transfer agents at the bank medallion stamp the bond, it is highly liquid on the second market. Thus, a bond is a form of loan or IOU, the holder of the bond is the lender, the issuer of the bond is the borrower, and the coupon is the interest. Bonds provide the borrower with funds to finance long-term investments, or, in the case of government bonds. Certificates of deposit or short term commercial paper are considered to be money market instruments and not bonds, the main difference is in the length of the term of the instrument. Bonds and stocks are both securities, but the difference between the two is that stockholders have an equity stake in the company, whereas bondholders have a creditor stake in the company. Being a creditor, bondholders have priority over stockholders and this means they will be repaid in advance of stockholders, but will rank behind secured creditors in the event of bankruptcy. Another difference is that usually have a defined term, or maturity, after which the bond is redeemed. An exception is a bond, such as a consol, which is a perpetuity, that is. Bonds are issued by authorities, credit institutions, companies. The most common process for issuing bonds is through underwriting, when a bond issue is underwritten, one or more securities firms or banks, forming a syndicate, buy the entire issue of bonds from the issuer and re-sell them to investors. The security firm takes the risk of being unable to sell on the issue to end investors. Primary issuance is arranged by bookrunners who arrange the bond issue, have contact with investors and act as advisers to the bond issuer in terms of timing. The bookrunner is listed first among all participating in the issuance in the tombstone ads commonly used to announce bonds to the public. The bookrunners willingness to underwrite must be discussed prior to any decision on the terms of the issue as there may be limited demand for the bonds. In contrast, government bonds are issued in an auction. In some cases, both members of the public and banks may bid for bonds, in other cases, only market makers may bid for bonds
4.
England
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England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west, the Irish Sea lies northwest of England and the Celtic Sea lies to the southwest. England is separated from continental Europe by the North Sea to the east, the country covers five-eighths of the island of Great Britain in its centre and south, and includes over 100 smaller islands such as the Isles of Scilly, and the Isle of Wight. England became a state in the 10th century, and since the Age of Discovery. The Industrial Revolution began in 18th-century England, transforming its society into the worlds first industrialised nation, Englands terrain mostly comprises low hills and plains, especially in central and southern England. However, there are uplands in the north and in the southwest, the capital is London, which is the largest metropolitan area in both the United Kingdom and the European Union. In 1801, Great Britain was united with the Kingdom of Ireland through another Act of Union to become the United Kingdom of Great Britain and Ireland. In 1922 the Irish Free State seceded from the United Kingdom, leading to the latter being renamed the United Kingdom of Great Britain, the name England is derived from the Old English name Englaland, which means land of the Angles. The Angles were one of the Germanic tribes that settled in Great Britain during the Early Middle Ages, the Angles came from the Angeln peninsula in the Bay of Kiel area of the Baltic Sea. The earliest recorded use of the term, as Engla londe, is in the ninth century translation into Old English of Bedes Ecclesiastical History of the English People. According to the Oxford English Dictionary, its spelling was first used in 1538. The earliest attested reference to the Angles occurs in the 1st-century work by Tacitus, Germania, the etymology of the tribal name itself is disputed by scholars, it has been suggested that it derives from the shape of the Angeln peninsula, an angular shape. An alternative name for England is Albion, the name Albion originally referred to the entire island of Great Britain. The nominally earliest record of the name appears in the Aristotelian Corpus, specifically the 4th century BC De Mundo, in it are two very large islands called Britannia, these are Albion and Ierne. But modern scholarly consensus ascribes De Mundo not to Aristotle but to Pseudo-Aristotle, the word Albion or insula Albionum has two possible origins. Albion is now applied to England in a poetic capacity. Another romantic name for England is Loegria, related to the Welsh word for England, Lloegr, the earliest known evidence of human presence in the area now known as England was that of Homo antecessor, dating to approximately 780,000 years ago. The oldest proto-human bones discovered in England date from 500,000 years ago, Modern humans are known to have inhabited the area during the Upper Paleolithic period, though permanent settlements were only established within the last 6,000 years
5.
Henry V of England
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Henry V was King of England from 1413 until his death at the age of 36 in 1422. He was the second English monarch who came from the House of Lancaster, after his fathers death in 1413, Henry assumed control of the country and embarked on war with France in the ongoing Hundred Years War between the two nations. His military successes culminated in his famous victory at the Battle of Agincourt and he was the son of 20-year-old Henry of Bolingbroke, and 16-year-old Mary de Bohun. He was also the grandson of the influential John of Gaunt, at the time of his birth, Richard II of England, his cousin once removed, was king. As he was not close to the line of succession to the throne and his grandfather, John of Gaunt, was the guardian of the king at that time. Upon the exile of Henrys father in 1398, Richard II took the boy into his own charge, the young Henry accompanied King Richard to Ireland, and while in the royal service, he visited Trim Castle in County Meath, the ancient meeting place of the Irish Parliament. He was created Prince of Wales at his fathers coronation, and Duke of Lancaster on 10 November 1399 and his other titles were Duke of Cornwall, Earl of Chester, and Duke of Aquitaine. A contemporary record notes that during that year Henry spent time at The Queens College, Oxford, under the care of his uncle Henry Beaufort, from 1400 to 1404, he carried out the duties of High Sheriff of Cornwall. It was there that the prince was almost killed by an arrow that became stuck in his face. An ordinary soldier might have died from such a wound, the operation was successful, but it left Henry with permanent scars, evidence of his experience in battle. The Welsh revolt of Owain Glyndŵr absorbed Henrys energies until 1408, then, as a result of the kings ill health, Henry began to take a wider share in politics. From January 1410, helped by his uncles Henry Beaufort and Thomas Beaufort – legitimised sons of John of Gaunt – he had control of the government. Both in foreign and domestic policy he differed from the king, the quarrel of father and son was political only, though it is probable that the Beauforts had discussed the abdication of Henry IV, and their opponents certainly endeavoured to defame the prince. It may be that the tradition of Henrys riotous youth, immortalised by Shakespeare, is due to political enmity. Henrys record of involvement in war and politics, even in his youth, the most famous incident, his quarrel with the chief justice, has no contemporary authority and was first related by Sir Thomas Elyot in 1531. The story of Falstaff originated in Henrys early friendship with Sir John Oldcastle, shakespeares Falstaff was originally named Oldcastle, following his main source, The Famous Victories of Henry V. However, his descendants objected, and the name was changed. That friendship, and the political opposition to Thomas Arundel, Archbishop of Canterbury. If so, their disappointment may account for the statements of ecclesiastical writers like Thomas Walsingham that Henry, after Henry IV died on 20 March 1413, Henry V succeeded him and was crowned on 9 April 1413 at Westminster Abbey, London, Kingdom of England
6.
Battle of Agincourt
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The Battle of Agincourt was a major English victory in the Hundred Years War. The battle took place on Friday,25 October 1415 in the County of Saint-Pol, Artois, Henry V led his troops into battle and participated in hand-to-hand fighting. The French king of the time, Charles VI, did not command the French army himself as he suffered from severe psychotic illnesses with moderate mental incapacitation, instead, the French were commanded by Constable Charles dAlbret and various prominent French noblemen of the Armagnac party. This battle is notable for the use of the English longbow in very large numbers, the battle is the centrepiece of the play Henry V by William Shakespeare. The Battle of Agincourt is well documented by at least seven contemporary accounts, the approximate location of the battle has never been in dispute and the place remains relatively unaltered even after 600 years. Two of the most frequently cited accounts come from Burgundian sources, one from Jean Le Fèvre de Saint-Remy, who was present at the battle, Henry V invaded France following the failure of negotiations with the French. He initially called a Great Council in the spring of 1414 to discuss going to war with France, Henry would marry Princess Catherine, the young daughter of Charles VI, and receive a dowry of 2 million crowns. The French responded with what they considered the terms of marriage with Princess Catherine, a dowry of 600,000 crowns. By 1415, negotiations had ground to a halt, with the English claiming that the French had mocked their claims and ridiculed Henry himself. In December 1414, the English parliament was persuaded to grant Henry a double subsidy, on 19 April 1415, Henry again asked the Great Council to sanction war with France, and this time they agreed. The siege took longer than expected, the town surrendered on 22 September, and the English army did not leave until 8 October. The campaign season was coming to an end, and the English army had suffered many casualties through disease and he also intended the manoeuvre as a deliberate provocation to battle aimed at the dauphin, who had failed to respond to Henrys personal challenge to combat at Harfleur. The French had raised an army during the siege which assembled around Rouen and this was not strictly a feudal army, but an army paid through a system similar to the English. The French hoped to raise 9,000 troops, but the army was not ready in time to relieve Harfleur, after Henry V marched to the north, the French moved to block them along the River Somme. They were successful for a time, forcing Henry to move south, away from Calais, the English finally crossed the Somme south of Péronne, at Béthencourt and Voyennes and resumed marching north. Without a river obstacle to defend, the French were hesitant to force a battle and they shadowed Henrys army while calling a semonce des nobles, calling on local nobles to join the army. By 24 October, both faced each other for battle, but the French declined, hoping for the arrival of more troops. The two armies spent the night of 24 October on open ground, the English had very little food, had marched 260 miles in two and a half weeks, were suffering from sickness such as dysentery, and faced much larger numbers of well equipped French men at arms
7.
Warwickshire
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Warwickshire is a landlocked county in the West Midlands of England. The county town is Warwick, although the largest town is Nuneaton, the county is famous for being the birthplace of William Shakespeare. Commonly used abbreviations for the county are Warks or Warwicks, the county is divided into five districts of North Warwickshire, Nuneaton and Bedworth, Rugby, Warwick and Stratford-on-Avon. The current county boundaries were set in 1974 by the Local Government Act 1972, the historic county boundaries also included Coventry and Solihull, as well as much of Birmingham. The northern tip of the county is only 3 miles from the Derbyshire border, an average-sized English county covering an area of almost 2,000 km2, it runs some 60 miles north to south. Equivalently it extends as far north as Shrewsbury in Shropshire and as far south as Banbury in north Oxfordshire, the majority of Warwickshires population live in the north and centre of the county. The market towns of northern and eastern Warwickshire were industrialised in the 19th century, and include Atherstone, Bedworth, Nuneaton, of these, Atherstone has retained most of its original character. Major industries included coal mining, textiles, engineering and cement production, of the northern and eastern towns, only Nuneaton and Rugby are well-known outside of Warwickshire. The south of the county is rural and sparsely populated. The only town in the south of Warwickshire is Shipston-on-Stour, the highest point in the county, at 261 m, is Ebrington Hill, again on the border with Gloucestershire, grid reference SP187426 at the countys southwest extremity. There are no cities in Warwickshire since both Coventry and Birmingham were incorporated into the West Midlands county in 1974 and are now metropolitan authorities in themselves, the largest towns in Warwickshire in 2011 were, Nuneaton, Rugby, Leamington Spa, Bedworth, Warwick, Stratford and Kenilworth. Much of western Warwickshire, including that area now forming part of Coventry, Solihull, thus the names of a number of places in the central-western part of Warwickshire end with the phrase -in-Arden, such as Henley-in-Arden, Hampton-in-Arden and Tanworth-in-Arden. The remaining area, not part of the forest, was called the Felden – from fielden, areas historically part of Warwickshire include Coventry, Solihull, Sutton Coldfield, Erdington, and some of Birmingham including Aston and Edgbaston. These became part of the county of West Midlands following local government re-organisation in 1974. Some organisations, such as Warwickshire County Cricket Club, which is based in Edgbaston, in Birmingham, Coventry is effectively in the centre of the Warwickshire area, and still has strong ties with the county. Coventry and Warwickshire are sometimes treated as an area and share a single Chamber of Commerce. Coventry has been a part of Warwickshire for only some of its history, in 1451 Coventry was separated from Warwickshire and made a county corporate in its own right, called the County of the City of Coventry. In 1842 the county of Coventry was abolished and Coventry was remerged with Warwickshire, in recent times, there have been calls to formally re-introduce Coventry into Warwickshire, although nothing has yet come of this
8.
Bankruptcy
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Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, Bankruptcy is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, in the United States, bankruptcy is applied more broadly to formal insolvency proceedings. In France, the cognate French word banqueroute is used solely for cases of fraudulent bankruptcy, in Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into debt slavery, until the creditor recouped losses through their physical labour. Many city-states in ancient Greece limited debt slavery to a period of five years, debt slaves had protection of life and limb, which regular slaves did not enjoy. However, servants of the debtor could be retained beyond that deadline by the creditor and were forced to serve their new lord for a lifetime. An exception to rule was Athens, which by the laws of Solon forbade enslavement for debt, as a consequence. The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency, Bankruptcy is also documented in East Asia. According to al-Maqrizi, the Yassa of Genghis Khan contained a provision that mandated the death penalty for anyone who became bankrupt three times, a failure of a nation to meet bond repayments has been seen on many occasions. Philip II of Spain had to declare four state bankruptcies in 1557,1560,1575 and 1596, at the edge of Europe, Egypt, Russia, and Turkey have histories of chronic default as well. For private households, it is argued to be insufficient to merely dismiss debts after a certain period and it is important to assess the underlying problems and to minimize the risk of financial distress to re-occur. In most EU Member States, debt discharge is conditioned by a partial payment obligation, in the United States, discharge is conditioned to a lesser extent. The spectrum is broad in the EU, with the UK coming closest to the US system, the Other Member States do not provide the option of a debt discharge. It is almost impossible to discharge student loan debt by filing bankruptcy, unlike most other debtors, the individual with student debt must give a series of reasons and tests to prove that the debtor could not pay the debt. If the person were to file bankruptcy, he or she is encouraged to do so under Chapter 13. In order to avoid bankruptcy, one could negotiate with the lender to lower monthly payments, student loan bankruptcy is considered a last resort. However, some find themselves being forced to file bankruptcy, as the lender refused to lower payments
9.
Slavery
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A slave is unable to withdraw unilaterally from such an arrangement and works without remuneration. Many scholars now use the chattel slavery to refer to this specific sense of legalised. In a broader sense, however, the word slavery may also refer to any situation in which an individual is de facto forced to work against his or her will. Scholars also use the generic terms such as unfree labour or forced labour. However – and especially under slavery in broader senses of the word – slaves may have some rights and/or protections, Slavery began to exist before written history, in many cultures. A person could become a slave from the time of their birth, capture, while slavery was institutionally recognized by most societies, it has now been outlawed in all recognized countries, the last being Mauritania in 2007. Nevertheless, there are still more slaves today than at any point in history. The most common form of the trade is now commonly referred to as human trafficking. Chattel slavery is still practiced by the Islamic State of Iraq. An older interpretation connected it to the Greek verb skyleúo to strip a slain enemy, there is a dispute among historians about whether terms such as unfree labourer or enslaved person, rather than slave, should be used when describing the victims of slavery. Chattel slavery, also called traditional slavery, is so named because people are treated as the chattel of the owner and are bought, although it dominated many societies in the past, this form of slavery has been formally abolished and is very rare today. Even when it can be said to survive, it is not upheld by the system of any internationally recognized government. Indenture, otherwise known as bonded labour or debt bondage is a form of labour under which a person pledges himself or herself against a loan. The services required to repay the debt, and their duration, debt bondage can be passed on from generation to generation, with children required to pay off their parents debt. It is the most widespread form of slavery today, debt bondage is most prevalent in South Asia. This may also include institutions not commonly classified as slavery, such as serfdom, conscription, Human trafficking primarily involves women and children forced into prostitution. And is the fastest growing form of forced labour, with Thailand, Cambodia, India, Brazil, in 2007, Human Rights Watch estimated that 200,000 to 300,000 children served as soldiers in current conflicts. A forced marriage may be regarded as a form of slavery by one or more of the involved in the marriage
10.
Manorialism
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Manorialism was an essential element of feudal society. It was the principle of rural economy that originated in the Roman villa system of the Late Roman Empire. It was slowly replaced by the advent of a market economy. These obligations could be payable in several ways, in labor, in kind, or, on rare occasions, in examining the origins of the monastic cloister, Walter Horn found that as a manorial entity the Carolingian monastery. Manorialism died slowly and piecemeal, along with its most vivid feature in the landscape and it outlasted serfdom as it outlasted feudalism, primarily an economic organization, it could maintain a warrior, but it could equally well maintain a capitalist landlord. It could be self-sufficient, yield produce for the market, or it could yield a money rent, the last feudal dues in France were abolished at the French Revolution. In parts of eastern Germany, the Rittergut manors of Junkers remained until World War II, in Quebec, the last feudal rents were paid in 1970 under the modified provisions of the Seigniorial Dues Abolition Act of 1935. The term is most often used with reference to medieval Western Europe, antecedents of the system can be traced to the rural economy of the later Roman Empire. With a declining birthrate and population, labor was the key factor of production, the workers of the land were on their way to becoming serfs. The legal status of adscripti, bound to the soil, contrasted with barbarian foederati, the process of rural self-sufficiency was given an abrupt boost in the eighth century, when normal trade in the Mediterranean Sea was disrupted. The lord held a court, governed by public law. Not all territorial seigneurs were secular, bishops and abbots also held lands that entailed similar obligations, by extension, the word manor is sometimes used in England to mean any home area or territory in which authority is held, often in a police or criminal context. In the generic plan of a manor from Shepherds Historical Atlas. As concerns for privacy increased in the 18th century, manor houses were located a farther distance from the village. In an agrarian society, the conditions of land tenure underlie all social or economic factors, there were two legal systems of pre-manorial landholding. One, the most common, was the system of holding land allodially in full outright ownership, the other was a use of precaria or benefices, in which land was held conditionally. To these two systems, the Carolingian monarchs added a third, the aprisio, which linked manorialism with feudalism and he solved this problem by allotting desert tracts of uncultivated land belonging to the royal fisc under direct control of the emperor. These holdings aprisio entailed specific conditions, the earliest specific aprisio grant that has been identified was at Fontjoncouse, near Narbonne
11.
Debt bondage
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Debt bondage, also known as debt slavery or bonded labour, is a persons pledge of labour or services as security for the repayment for a debt or other obligation. The services required to repay the debt may be undefined, debt bondage can be passed on from generation to generation. Currently, debt bondage is the most common method of enslavement with an estimated 8.1 million people bonded to labour illegally as cited by the International Labour Organization in 2005. Debt bondage has been described by the United Nations as a form of modern day slavery, though most countries in South Asia and Sub-Saharan Africa are parties to the Convention, the practice is still prevalent primarily in these regions. It is predicted that 84 to 88% of the labourers in the world are in South Asia. Lack of prosecution or insufficient punishment to this crime are the causes as to why this practice exists at this scale today. When the bonded laborer dies, debts are passed on to children. Although debt bondage, forced labour, and human trafficking are all defined as forms or variations of slavery, debt bondage differs from forced labour and human trafficking in that a person consciously pledges to work as a means of repayment of debt without being placed into labor against will. Debt bondage only applies to individuals who have no hopes of leaving the labor due to inability to pay debt back. Those who offer their services to repay a debt and the employer reduces the debt accordingly are not in debt bondage. In the 19th century, people in Asia were bonded to labor due to a variety of reasons ranging from farmers mortgaging harvests to drug addicts in need for opium in China. When a natural disaster occurred or food was scarce, people willingly chose debt bondage as a means to a secure life, in the early 20th century in Asia, most laborers tied to debt bondage had been born into it. In certain regions, such as in Burma, debt bondage was far more common than slavery and these continued added loan values made leaving servitude unattainable. Moreover, after the development of the economy, more workers were needed for the pre-industrial economies of Asia during the 19th century. A greater demand for labor was needed in Asia to power exports to growing industrial countries like the United States and it started from the end of slavery in 1833 and continued until 1920. Important to both East and West Africa, pawnship, defined by Wilks as the use of people in transferring their rights for settlement of debt, was common during the 17th century, the system of pawnship occurred simultaneously with the slave trade in Africa. Though the export of slaves from Africa to the Americas is often analyzed, development of plantations like those in Zanzibar in East Africa reflected the need for internal slaves. Furthermore, many of the slaves that were exported were male as brutal and this created gender implications for individuals in the pawnship system as more women were pawned than men and often sexually exploited within the country
12.
Indentured servitude
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An indentured servant or indentured labor is an employee within a system of unfree labor who is bound by a contract to work for a particular employer for a fixed period of time. The employer is permitted to assign the labor of an indenturee to a third party. Indenturees usually enter into an indenture for a payment or other benefit or to meet a legal obligation. Upon completion of the contract, indentured servants were granted freedom or occasionally plots of land, in many countries, systems of indentured labor have been outlawed. Until the late 18th century, indentured servitude was very common in British North America and it was often a way for poor Europeans to emigrate to the American colonies, they signed an indenture in return for a costly passage. After their indenture expired, the immigrants were free to work for themselves or another employer, the consensus view among economic historians and economists is that indentured servitude occurred largely as an institutional response to a capital market imperfection. In some cases, the indenture was made with a ships master, most indentured servants worked as farm laborers or domestic servants, although some were apprenticed to craftsmen. The terms of an indenture were not always enforced by American courts, although runaways were usually sought out, between one-half and two-thirds of white immigrants to the American colonies between the 1630s and American Revolution had come under indentures. 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 the 450,000 or so European arrivals who came voluntarily, Tomlins estimates that 48% were indentured. About 75% of these were under the age of 25, the age of adulthood for men was 24 years, those over 24 generally came on contracts lasting about 3 years. Not all European servants were sent willingly, several instances of kidnapping for transportation to the Americas are recorded. An illustrative example is that of Peter Williamson, one spirit named William Thiene was known to have spirited away 840 people from Britain to the colonies in a single year. Historian Lerone Bennett, Jr. notes that Masters given to flogging often did not care whether their victims were black or white. Indentured servants could not marry without the permission of their master, were subject to physical punishment, to ensure uninterrupted work by the female servants, the law lengthened the term of their indenture if they became pregnant. But unlike slaves, servants were guaranteed to be released from bondage. At the end of their term they received a payment known as freedom dues, one could buy and sell indentured servants contracts, and the right to their labor would change hands, but not the person as a piece of property. The American Revolution severely limited immigration to the United States, but economic historians differ on the long-term impact of the Revolution
