Corbett v. Nutt was a United States Supreme Court case that was decided in 1870. The case involved a dispute between two parties over a contract for the sale of a steamboat. The plaintiff, Corbett, had entered into a contract with the defendant, Nutt, to purchase a steamboat for $2,000. Corbett paid the full amount, but Nutt refused to deliver the boat. Corbett then sued Nutt for breach of contract. The Supreme Court held that Nutt was liable for breach of contract. The Court found that Nutt had failed to fulfill his obligations under the contract and that Corbett was entitled to damages. The Court also held that Nutt was liable for the full amount of the contract, plus interest, as well as any other damages that Corbett may have suffered as a result of the breach. The Court's decision in Corbett v. Nutt established that a party who breaches a contract is liable for the full amount of the contract, plus any damages that may have been suffered as a result of the breach. This decision has been cited in numerous cases since then and is still an important part of contract law today.

In Corbett v. Nutt, the Supreme Court was asked to decide whether a contract between two individuals could be enforced if it violated state law. The majority opinion held that such contracts were not enforceable and thus dismissed the case. However, Justice Field dissented from this decision on the grounds that while states have authority to regulate certain matters of public policy, they do not have absolute power over private contracts made by citizens within their borders. He argued that when parties enter into an agreement with full knowledge of its terms and conditions, then both should be bound by those terms regardless of any conflicting state laws or regulations. Furthermore, he contended that allowing states to invalidate private agreements would lead to uncertainty in contractual relationships and ultimately undermine commerce throughout the country as businesses become reluctant to engage in transactions due to fear of having their agreements voided at some later date for reasons beyond their control