Thomas v. Thomas Truck and Caster Co.

REYNOLDSON, Justice.

The sole issue in this case is whether the plaintiff, J. Faulkner Thomas, breached an agreement made with defendant Company and resultantly forfeited a contractual right to lifetime payments of $20,000 per year and related life insurance benefits. Trial court held there was no breach. We agree.

The facts before us are uncontroverted. Thomas', 76 years old at trial, founded the Company in 1937. In 1955 he sustained a heart attack and was thereafter only semi-active in the business. His son Walter became the managing officer. In 1963 Thomas had a stroke.

July 15, 1968, Walter,…