Definition from Nolo’s Plain-English Law Dictionary
What some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. In many states, if the person performing the work is not a licensed contractor, he or she is limited to labor and materials in any lawsuit for contract payment, and may not receive a profit above that amount.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:18 pm