Wallace v. International Trade Exhibition, Inc.

This case is practically identical with that of Avery v. International Trade Exhibition, 163 La. 454, 112 So. 44. Plaintiff in this case was the president of the company. His salary was fixed by the same authority which fixed the salary of Avery, the vice president. And we thought then, and think now, that authority was ample for the purpose. By the defendants charter its board of directors had authority to appoint and did appoint an executive committee “to exercise all the powers of the Board in the current business of the corporation while the Board is not in session.” We thinjk transacting…