Fano v. Banco Territorial y Agrícola de Puerto Rico

Primitivo Rocafort was steadily in the employ of the Banco Territorial y Agrícola de Puerto Rico for over thirty years. On the 3rd of November 1930, the following letter was addressed to him:

“I have the pleasure of informing you that at the meeting of the Board of Directors of this bank on November 3, and in consideration of your many years of faithful and efficient services to this institution, it was agreed that yon be retired with a life pension of $150.00 effective immediately.

‘ ‘ The Board feels that in making this resolution it is fulfilling an obligation of gratitude due you, since it…