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How does the REA approach improve efficiency?
Tortious Conduct
Actions by one party that cause harm or loss to another, which can be grounds for a civil lawsuit under tort law.
Independent Contractors
Individuals or companies contracted to perform tasks or services for another entity under terms specified in a contract, not classified as employees.
Employees
Individuals who are hired to perform services for a company or another person in exchange for compensation, typically operating under a contract of employment.
Disclosed Principals
The concept in agency law where an agent's third party is aware of the identity of the principal, thus establishing contractual or legal relationships.
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