construction

Contractor

Definition

A person or business that agrees to conduct work for another entity as specified under the terms of a contract. Unlike employees, contractors are independent entities that do not work exclusively for one person or business and are subject to...

Improvement

As applies to real estate, any permanent structure or work (such as planting trees) on real property, which increases its value or extends its useful life. As defined by the IRS, an addition to or alteration of a capital asset, which either increases...

Kickbacks

Kickbacks: an overview

A "kickback" is a term used to refer to a misappropriation of funds that enriches a person of power or influence who uses the power or influence to make a different individual, organization, or company richer. Often, kickbacks...

labor and materials (time and materials)

Definition from Nolo’s Plain-English Law DictionaryWhat 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...