Loyal, aged 60, who had no plans for early retirement, had worked for Mutate, Inc., for 20 years as a managerial employee-at-will when he had a conversation with the company's president, George Mutant, about Loyal's post- retirement goal of extensive travel around the United States. A month later, Mutant handed Loyal a written, signed resolution of the company's Board of Directors stating that when and if Loyal should decide to retire, at his option, the company, in recognition of his past service, would pay him a $2,000per-month lifetime pension. (The company had no regularized retirement plan for atwill employees.) Shortly thereafter, Loyal retired and immediately bought a $30,000 recreational vehicle for his planned travels. After receiving the promised $2,000 monthly pension from Mutate, Inc., for six months, Loyal, now unemployable elsewhere, received a letter from Mutate, Inc., advising him that the pension would cease immediately because of recessionary budget constraints affecting in varying degrees all managerial salaries and retirement pensions. In a suit against Mutate, Inc., for breach of contract, Loyal will probably 
win, because he retired from the company as bargained-for consideration for the Board's promise to him of a lifetime pension.  win, because he timed his decision to retire and to buy the recreational vehicle in reasonable reliance on the Board's promise to him of a lifetime pension.  lose, because the Board's promise to him of a lifetime pension was an unenforceable gift promise.  lose, because he had been an employee- at-will throughout his active service with the company. 