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Contracts Keyed to Kuney
Feinberg v. Pfeiffer Co.
Citation:
322 S.W.2d 163 (1959).
ProfessorMelissa A. Hale
CaseCast™ – "What you need to know"
Facts
Plaintiff began working for defendant in 1910. By 1947 she had been promoted to the position of bookkeeper, office manager, and assistant treasurer. She also owned 70 shares of stock in the company (a total of 6,503 shares were issued at that time). At an annual Board of Directors meeting on December 27, 1947, a resolution was adopted recognizing plaintiff’s service to the company, giving her a raise, and allowing her to retire at any time with a pension of $200 per month for life. At the president’s request, the plaintiff was immediately notified of the resolution. Plaintiff continued to work for the defendant until June 30, 1949 at which time she retired and the defendant began sending her $200 per month. The payments continued until 1956 when (after multiple changes in leadership) the new president was advised by the defendant’s lawyer and accounting firm that the payments were mere gratuities and the defendant had no obligation to make the payments.
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