BUSINESS

Employee or independent contractor: How to find out?

by

What are the differences between employee and independent contractor?

At several points it becomes essential for businesses to differentiate between an employee and an independent contractor. There are several points of distinction between the two. Of all the factors that affect one’s status as an employee or a contractor, it is the degree of control the person holds on his job  which is most important. There are several other factors too like the duration of employment, payment, resources used for the job etc. which are used to decide one from the other.

Read more

Business Partnership types and their pros and cons.

by

Partnership in Business and Its Types Partnership: Partnership implies shared ownership where two people or more share the ownership of a single business. The partners don’t just share the profits and losses of the business but contribute to every aspect of the business, whether it is the money, resources, labor, or even skills. Since a partnership … Read more

CONTRACT ELEMENTS

by

Elements in a legally enforceable contract Contracts: Contracts are a very important part of business agreements. Before two parties form an agreement it is essential that they know their duties and benefits well. Each party is required to perform its duty. Contracts are promises that are enforceable by law. Two parties are believed to have … Read more

Study Notes

by

 Explain Subrogation in an insurance contract.   Subrogation in its most common form can be understood as substitution. In simper words it is the substitution of the insurer to the insured’s rights. The question is  ‘why this substitution’. It is because the first party, the insurer made a payment to the second party, the insured and for … Read more