In California Paving Co. v. Schalicke, the United States Supreme Court was asked to decide whether a contract between two parties was valid and enforceable. The plaintiff, California Paving Co., had contracted with the defendant, Schalicke, to construct a road. Schalicke had agreed to pay the plaintiff for the work, but failed to do so. The plaintiff then sued for breach of contract. The Supreme Court held that the contract was valid and enforceable. The Court noted that the contract was clear and unambiguous, and that the parties had agreed to all of its terms. The Court also noted that the plaintiff had performed its obligations under the contract, and that the defendant had failed to do so. Therefore, the Court held that the plaintiff was entitled to recover damages for the defendant's breach of contract. In conclusion, the Supreme Court held that the contract between the plaintiff and the defendant was valid and enforceable, and that the plaintiff was entitled to recover damages for the defendant's breach of contract.

Justice Field delivered the dissenting opinion in California Paving Co. v. Schalicke, arguing that the majority's decision was contrary to both precedent and reason. He argued that a contract should be interpreted according to its plain language, which in this case did not include any provision for interest on payments due under it; thus, he concluded that no such payment could be legally enforced by either party. Furthermore, Justice Field noted that if parties wished to include an interest clause they were free to do so but absent such a clause there was no legal basis for enforcing one retroactively after the fact of performance had already occurred. Finally, he pointed out that even if an implied obligation existed between the parties regarding interest payments then it would have been up to them as contracting individuals - rather than courts -to determine what rate of interest applied and when those payments became due or overdue; therefore judicial intervention into these matters should not occur unless absolutely necessary given their private nature and contractual autonomy involved therein.