Belknap v. Dean Witter & Co., Inc.

OPINION OF THE COURT

Memorandum.

The order of the Appellate Division should be affirmed, with costs.

The April, 1968, corporate resolution of Laird, Bissel & Meeds, Inc. (LBM), on which plaintiffs’ decedent’s right to a pension is grounded, provided that “[i]n case of merger, the firm would attempt to have the pension continued, but could not, of course, guarantee that this would be the case.” As a consequence of this limitation, at the moment LBM merged with defendant, LBM’s responsibility to provide a pension could not be deemed a “debt, liability, [or] duty” that defendant agreed or was…