Pioneer Specialties, Inc. v. Nelson

In April of 1957, Ronald Nelson was elected President of Pioneer Specialties, Incorporated. The by-laws of the corporation provide that the president and other corporate officers “shall be elected for one year,” and Nelson’s term as president was for one year. On August 1, 1957, Nelson was employed to be president of the corporation for a period of two years. Though the term for which he was elected to be president ended in April or May of 1958, the contract provided that he was employed as president until July 31, 1959. On December 15, 1957, during the year in which he had been elected…