Feibelman v. Packard and Another was a United States Supreme Court case that dealt with the issue of whether a contract between two parties was valid. The case involved a dispute between two parties, Feibelman and Packard, over a contract for the sale of a piece of real estate. Feibelman had agreed to purchase the property from Packard, but Packard refused to transfer the deed to Feibelman. Feibelman then sued Packard for breach of contract. The Supreme Court held that the contract between the two parties was valid and enforceable. The Court found that the contract was supported by consideration, meaning that both parties had given something of value in exchange for the agreement. The Court also found that the contract was not void for lack of consideration, as Packard had argued. The Court held that the contract was binding on both parties and that Packard was obligated to transfer the deed to Feibelman. In conclusion, the Supreme Court held that the contract between Feibelman and Packard was valid and enforceable. The Court found that the contract was supported by consideration and that Packard was obligated to transfer the deed to Feibelman.

In Feibelman v. Packard and Another, the Supreme Court was asked to decide whether a contract between two parties could be enforced when it had been entered into without consideration. The majority opinion held that there was no consideration for the contract in question and thus it could not be enforced. However, Justice Field dissented from this decision on the grounds that although there may have been no actual monetary or other tangible form of consideration given by one party to another, an agreement made with good faith intentions should still be enforceable under law as long as both parties were aware of their obligations under said agreement. He argued that if such agreements are not upheld then individuals will lack confidence in entering into contracts which do not involve any exchange of money or goods but instead rely solely upon mutual trust and understanding between them.