Business Law: Principles for Today's Commercial Environment 3rd Edition by Marianne Moody Jennings, David Twomey, Marianne Jennings

Exercise 6

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 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)]