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Contracts Keyed to Calamari
Ballard v. El Dorado Tire Co.
Facts
The Plaintiff, Bill L. Ballard (the "Plaintiff"), entered into an employment contract with the Defendant, El Dorado Tire Co. (the "Defendant"), on May 31, 1969. The Defendant owned a substantial interest in a Florida subsidiary. The Plaintiff was entitled to $18,000 per year in salary, a commission of 1% on his gross sales, and "a credit towards the purchase of stock in the Florida Subsidiary company." Up to 20% of the stock. The Defendant sold all 31,000 shares of the stock in the Florida Subsidiary that it owned to a man name Dodenhoff. Subsequent to the sale, on October 19, 1971, the Plaintiff filed suit to establish his rights under the contract. Dodenhoff considered the Plaintiff's filing of suit a "breach of their contract" and a "voluntary resignation." The District Court refused to mitigate the Plaintiff's damages by what he could have earned if employed by another company.
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