Start by answer by stating either if the defenseof PLDT Company is CORRECT or INCORRECT (ex. The defense of PLDT Company is incorrect).

Before the war, the Phil. Long Distance Co. (PLDT) adopted a pension plan for its employees by virtue of which all employees who have reached the age of 5O years and who have rendered 2O years or more service may be retired with a pension. After the war, the Board of Directors of the Company passed a resolution abrogating the pension plan. Subsequently, sixty employees who were affected filed a complaint against the Company claiming monetary benefits under the pension plan. The Company interposed the following defenses:

(1) that the obligation to pay a pension to the plaintiffs is subject to certain suspensive conditions, consequently such plaintiffs have no personality to ask for monetary benefits until after such conditions are fulfilled;

(2) that even granting without admitting that they have, they are not entitled to such benefits until after the conditions are fulfilled; and

(3) that war losses had extinguished the Company's obligation to proceed with the pension plan.

If you are the judge, how will you decide the case? Give your reason or argument for each defense of PLDT Company.