Renauld v. Marine Specialty & Mill Supply Co.

The plaintiff has appealed from a judgment dismissing his suit on an exception of no cause or right of action. He avers that, in 1922, when he and Frank Viola and R. J. Holbrook owned all — each owning a third — of the capital stock of the Marine Specialty Company, Inc., now called Marine Specialty & Mill Supply Company, Inc., they agreed verbally that their salaries should be equal in amount, and that the salary of each of them was then fixed at $100 per week; Holbrook being president of the corporation, Viola being secretary and general manager, and plaintiff being vice president and…