Nature of the Case
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Facts
The board of Alabama Dry Dock and Shipbuilding Company resolved that $55,000 be paid in 24 monthly installments to the widow of the corporation's just deceased president and $9,750 to the widow of its deceased comptroller. P sued to stop the payment on the grounds that there was no contract or consideration for such payments. The trial court ruled that the bill had equity and refused to grant D's demurrer. D appealed.
Holding and Decision
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Legal Analysis
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