Michael Is an Independent Contractor for Repairs and Maintenance, but His

question 85

True/False

Michael is an independent contractor for repairs and maintenance, but his customers usually provide him with the necessary tools and equipment. Michael may not be qualified as a self-employed individual.

---

Definitions:

Co-sureties

Individuals or entities that jointly commit to paying back a debt or fulfilling an obligation if the primary party fails to do so.

Guarantor

A person or entity that agrees to be responsible for another's debt or obligations if the original party fails to meet their responsibilities.

Guaranty

A legal commitment by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.

Suretyship

A contractual agreement where a party (surety) agrees to be responsible for the debt or obligations of another party (principal) if that party fails to fulfill them.