Contractor legal definition of contractor


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contractor

n. 1) a person or entity that enters into a contract. 2) commonly, a person or entity that agrees to construct a building or to provide or install specialized portions of the construction. The party responsible for the over-all job is a “general contractor,” and those he/she/it hires to construct or install certain parts (electrical, plumbing, roofing, tile-laying, etc.) are “subcontractors,” who are responsible to the general contractor and not to the property owner. An owner must be sure that the subcontractors are paid by the general contractor by demanding and receiving proof of payment, or the subcontractor will be entitled to payment from the owner based on a mechanics lien against the property. (See: contract, independent contractor, subcontractor)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

contractor

a person who is a

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Commercial Real Estate: Definition, Impact, REITs

Commercial real estate is any property owned for the purpose of producing income. There is about $6 trillion worth of commercial real estate in the United States. Here are the five largest categories of commercial real estate.

  1. Retail includes indoor shopping malls, outdoor strip malls, and big box retailers. It also includes grocery stores and restaurants. Its value is around $2.1 trillion or 36 percent of the total value of commercial real estate. It consists of at least 9.5 billion square feet of shopping center space.
  2. Hotels include motels, luxury resorts, and business hotels. This category does not include homes that rent out rooms through Airbnb. There are roughly 4.4 million hotel rooms worth $1.92 trillion.
  3. Office buildings include everything from Manhattan skyscrapers to your lawyer’s office. There are roughly 4 billion square feet of office space, worth around $1.7 trillion or 29 percent of the total.
  4. Apartment buildings are
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Condominium Definition

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definition of condo by The Free Dictionary

.

con·do

 (kŏn′dō′)

n. pl. con·dos Informal

A condominium.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

condo

(ˈkɒndəʊ)

n, pl -dos

(Building) a condominium building or apartment

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

con•do•min•i•um

(ˌkɒn dəˈmɪn i əm)

n.

1. an apartment house, office building, or other multiple-unit complex, the units of which are individually owned, with each owner receiving a deed to the unit purchased, including the right to sell or mortgage that unit, and sharing in joint ownership of any common grounds, passageways, etc.

2. a unit in such a building.

3.

a. joint sovereignty over a territory by several states.

b. the territory itself.

[1705–15; con-
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Commercial Real Estate Loan Definition

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Independent Contractor Definition

What Is an Independent Contractor?

An independent contractor is a person or entity contracted to perform work for—or provide services to—another entity as a nonemployee. As a result, independent contractors must pay their own Social Security and Medicare taxes. In addition, the entity is not required to provide the contractor with employment benefits, such as health insurance, that they might otherwise be required to provide were the contractor an employee. The payer must correctly classify each payee as either an independent contractor or employee. Another term for an independent contractor is a freelancer.

Understanding Independent Contractors

Doctors, dentists, veterinarians, lawyers, and many other professionals who provide independent services are classified as independent contractors by the Internal Revenue Service (IRS). However, the category also includes contractors, subcontractors, freelance writers, software designers, auctioneers, actors, musicians, and many others who provide independent services to the general public. Independent contractors have become increasingly prevalent

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Commercial Real Estate (CRE) Definition

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definition of contractor by The Free Dictionary

But when he got out at his own station, when he saw his one-eyed coachman, Ignat, with the collar of his coat turned up; when, in the dim light reflected by the station fires, he saw his own sledge, his own horses with their tails tied up, in their harness trimmed with rings and tassels; when the coachman Ignat, as he put in his luggage, told him the village news, that the contractor had arrived, and that Pava had calved,–he felt that little by little the confusion was clearing up, and the shame and self-dissatisfaction were passing away.
There is the Contractor, who is Providence to five hundred thousand men.
Mulvaney knew a contractor on one of the new Central India lines, and wrote to him for some sort of work.
“I’m my own contractor, my own carpenter, and my own bricklayer, and I shall be sixty-seven come
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