Asked by Manda Gibbs on Apr 30, 2024
Verified
Typically,building contractors,doctors,stockbrokers,and lawyers are ________.
A) employees
B) agents by estoppel
C) agents by ratification
D) dependent contractors
E) independent contractors
Independent Contractors
Individuals or entities contracted to perform work for another entity as a non-employee, often responsible for their own taxes and insurance.
Building Contractors
Individuals or companies that are responsible for the construction, renovation, and repair of buildings, overseeing and managing the construction process.
Stockbrokers
Professionals who buy and sell stocks and other securities for both retail and institutional clients, through a stock exchange or over the counter, in return for a fee or commission.
- Become familiar with the legal and practical separations between employees and independent contractors, as well as their distinct legal outcomes.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
E
Explanation :
Employers often hire independent contractors,persons who are not employees,to conduct certain tasks.The Restatement of Agency defines an independent contractor as "a person who contracts with another to do something for him but who is not controlled by the other nor subject to the other's right to control with respect to his physical conduct in the performance of the undertaking." Typically,building contractors,doctors,stockbrokers,and lawyers are independent contractors.
Learning Objectives
- Become familiar with the legal and practical separations between employees and independent contractors, as well as their distinct legal outcomes.