Question
Deborah Coleman began working for Apple in 1980 after she graduated from BSU. By 2015, she had attained the position of Chief Financial Officer (CFO)
Deborah Coleman began working for Apple in 1980 after she graduated from BSU. By 2015, she had attained the position of Chief Financial Officer (CFO) and treasurer. In appreciation for her skill, dedication and long years of service, the Apple board of directors resolved to increase Coleman's monthly salary to $20,000 and to create for her a retirement plan. The plan allowed that Coleman would be given the privilege of retiring from active duty at any time she chose and that she would receive retirement pay of $10,000 per month, although the Board expressed hope that Coleman would continue to serve the company for many years. Coleman, however, chose to retire three years later in 2018. Apple paid Coleman her retirement until 2020. The company thereafter discontinued payments alleging that no contract had been made by the board of directors, because Coleman paid no consideration, and that the resolution was merely a promise to make a gift. You have been hired by Ms. Coleman. Can she be successful in enforcing a contract with Apple? What will you tell her?
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