Belcher v. Carstens

Citations

• 87 Wash. 264
• 151 P. 802
• 1915 Wash. LEXIS 912

Syllabus

<p>Corporations — Officers—Contracts—Employment. An agreement by the president and principal stockholder oí a corporation to pay to two of its employees, as extra compensation in addition to their regular salaries, the reasonable value of their services in effecting a reorganization of the corporation, is binding, regardless of who originated the plan, or whether the services were within the scope of their usual duties or were of any permanent benefit.</p> <p>Same—Contracts — Employment — Consideration. The release of rights in shares of the capital stock of a proposed corporation, put up with a trust company as part payment for helping to reorganize the company, is a good consideration for a promise to pay the reasonable value of services already performed and to be performed in effecting the reorganization.</p>