Community Stores, Inc. v. Dean

Rodney, J.,

delivering the opinion of the court:

From the foregoing facts two questions arise, (1) did the agreement of July 15, 1939, executed by Community Stores, Inc., Dean and Donovan, under which Dean and Donovan were each to receive $35 per week for their services so long as they remained in the employ of the company, and which reserved no express power of alteration by the directors, constitute a contract of hiring or other enforceable contract; and (2) did the directors have the power to alter the contract of July 15, 1937, by their subsequent action under the resolution of August 31,…