- Froogled By:
- Elias Makere, FSA, MAAA
- Last Froogled:
CONTRACTOR
2. one who contracts to do work for another. An independent contractor makes an agreement to do a specific piece of work, retaining control of the means and method of doing the job; neither party has the right to terminate the contract at will. A GENERAL BUILDING CONTRACTOR contracts directly with the owner of the property upon which the construction occurs, as distinguished from a SUBCONTRACTOR, who would deal only with one of the general contractors.
"[the Court of Appeals has applied an] economic realities [test under which persons are considered employees if they] are dependent upon the business to which they render service."
Feel free to use it throughout your financial/insurance life.
Sincerely,
www.FroogleMe.com
