In 1969, at the age of seventeen, Person A began working for company P. She had reached the rank of a bookkeeper, chief of office and right-hand treasurer by 2007. The board of chiefs of company P, in recognition of their capacity, dedication, and long service time, agreed to increase the month-to-month salary of Individual A to $4,000 and make a retirement plan. The agreement allowed person A to be granted the privilege of withdrawing from the complex contract if she wished to accept a retirement payment of $2,000 per month for life, even though the board expressed in faith that Person A would continue to represent the organization for a long time. Person A, as it may be, agreed to resign two a long time later. Company F has paid her retirement pay to Person A until 2016. The business suspended instalments from that point on. To discuss: The arguments that the company’s promise to pay person A $2,000 per month for life is enforceable.

Question

Want to see the full answer?

Answer 1

Question

Chapter 12, Problem 1TS

Summary Introduction

Case summary:

In 1969, at the age of seventeen, Person A began working for company P. She had reached the rank of a bookkeeper, chief of office and right-hand treasurer by 2007. The board of chiefs of company P, in recognition of their capacity, dedication, and long service time, agreed to increase the month-to-month salary of Individual A to $4,000 and make a retirement plan. The agreement allowed person A to be granted the privilege of withdrawing from the complex contract if she wished to accept a retirement payment of $2,000 per month for life, even though the board expressed in faith that Person A would continue to represent the organization for a long time. Person A, as it may be, agreed to resign two a long time later. Company F has paid her retirement pay to Person A until 2016. The business suspended instalments from that point on.

To discuss: The arguments that the company’s promise to pay person A $2,000 per month for life is enforceable.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Please original work (Please dont add any AI sentences) Background information: LEGO was founded in 1932. The word LEGO is from the Danish words LEg GOdt (play well). Later, it was realized that in Latin the word means “I put together”. The firm initially made wooden toys as well as other wood products stepladders, ironing boards, stools, etc. In 1947, the LEGO Group bought a plastic injection-molding machine for toy production and in 1949 the first LEGO Automatic Binding Brick with four and eight studs appeared. LEGO flourished for many years with its innovative toys. However, in 2004, innovation almost bankrupted the Danish toymaker. LEGO had become concerned about low-cost copies of its plastic building products so it sought to diversify into different activities including: theme parks, Clikits craft sets, action figures (Galidor), and a television show among other efforts. All of these were unprofitable and were eventually discontinued. Today, LEGO is growing in an overall…

Please original work Talk about your current organization’s greatest needs for creating a balanced scorecard for management consulting firm, and steps you would take to design the balance scorecard. Please cite in text references and add weblinks.

Please original work How do you think organizations can effectively balance short-term resource constraints with the need for long-term investments in areas like technology and employee development, especially when both are critical to achieving strategic goals? Please cite in text references and add weblinks