Preferred General Agency of Alaska, Inc. v. Raffetto

DIMOND, Justice.

Raffetto was employed under an oral agreement by the appellant, Preferred General Agency of Alaska, Inc., as an insurance underwriter. He was to receive a salary of $10,000 a year, plus a bonus based upon a set percentage of the net profits of appellant’s business. Raffetto terminated his employment on June 15, 1960. A dispute then arose between the parties as to the terms of the agreement relating to the bonus. Appellant claimed that the bonus was to be payable only on a yearly basis, so that if Raffetto did not complete a full calendar year’s work he was to get no bonus at…