Del Veccio v. Hood

This is an appeal from a final decree of the Chancery Division determining who are the beneficiaries of a certain Welfare Fund. L.E. Carpenter Company and a labor union which was the bargaining agent of most of its employees, entered into two agreements dated December 11, 1946, one covering wages and conditions of employment, the other providing for the Welfare Fund. The Fund was to be used only for the payment of premiums on insurance and annuity contracts in order to provide pensions, death, accident and sickness benefits, and hospital and medical services for the "qualifying employees." In…