Kelsoe worked for International Wood Products, Inc , for a number of years One day Hernandez, a director and major stockholder of the company, promised Kelsoe that the corporation would give her 5 percent of the companys stock This promise was never kept, and Kelsoe sued International for breach of...

No the company had not broken a promise becau ...

Kelsoe worked for International Wood Products, Inc., for a number of years. One day Hernandez, a director

Question:

Kelsoe worked for International Wood Products, Inc., for a number of years. One day Hernandez, a director and major stockholder of the company, promised Kelsoe that the would give her 5 percent of the company’s stock. This promise was never kept, and Kelsoe sued International for breach of contract. Had the company broken its contract? [Kelsoe v International Wood Products, Inc., 588 So2d 877 (Ala)]

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...