Girard v. Case Bros. Cutlery Co.

Citations

• 225 Pa. 327
• 74 A. 201
• 1909 Pa. LEXIS 659

Syllabus

<p>Corporations — Promoters—Contract of employment — Ratification.</p> <p>Where the officers and stockholders of a corporation and the members of a partnership agree to form a new corporation to take over the business of the two concerns, and the promoters agree that one of the paid officers of the old corporation shall become a paid officer of the new corporation, and after the new corporation is organized such officer assumes his new office and performs its duties, the contract of employment is binding upon the new corporation unless it is renounced and disapproved by its directors.</p>