In Cohn v. United States Corset Company, the Supreme Court of the United States was asked to decide whether a contract between two parties was valid and enforceable. The plaintiff, Cohn, had entered into a contract with the defendant, United States Corset Company, to purchase a large quantity of corsets. The contract stated that the corsets were to be delivered within a certain time frame, and that if the corsets were not delivered on time, the defendant would be liable for damages. The defendant argued that the contract was invalid because it was not in writing, as required by the Statute of Frauds. The Supreme Court disagreed, finding that the contract was valid and enforceable. The Court held that the Statute of Frauds did not apply in this case because the contract was for the sale of goods, and the Statute of Frauds only applied to contracts for the sale of land. The Court also found that the contract was supported by consideration, as the plaintiff had paid a deposit for the corsets. The Court ultimately held that the contract was valid and enforceable, and that the defendant was liable for damages for failing to deliver the corsets on time. This decision established that contracts for the sale of goods are not subject to the Statute of Frauds, and that consideration is necessary for a contract to be valid and enforceable.

In Cohn v. United States Corset Company, the Supreme Court was asked to decide whether a contract between two parties could be enforced when one of the parties had not fully performed their obligations under it. The majority opinion held that since there had been partial performance by both sides, and as such each party should bear its own costs in relation to the breach of contract. Justice Field dissented from this ruling on the basis that if one side has failed to perform their part of an agreement then they should not be allowed any benefit from it; instead, they should have to pay for all damages caused by their failure to fulfill their contractual duties. He argued that allowing them any benefit would encourage people who are unwilling or unable to meet their obligations under contracts and thus undermine public confidence in agreements made between individuals or companies.