Hayes v. Plantations Steel Co.

438 A.2d 1091 (1982)

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Nature of the Case

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Facts

Hayes (P) was an employee of Plantations (D). P worked for the company from 1947 until 1972. P announced his retirement and then discussed a pension plan with an officer and stockholder of D one week before his effective retirement date. There was no formal contract and only a promise by an officer of the corporation that P would be taken care of. Payments began to be made but were stopped three years later. The trial judge ruled that P was entitled to his payments. D appealed.