In Insurance Company v. Eggleston, the Supreme Court of the United States was asked to determine whether a policy of insurance was valid and enforceable. The policy was issued by the defendant, an insurance company, to the plaintiff, Eggleston, and provided coverage for the loss of a certain amount of money due to theft. The policy was issued without the knowledge of the plaintiff, and the defendant argued that the policy was invalid because it was issued without the plaintiff's knowledge or consent. The Supreme Court held that the policy was valid and enforceable. The Court reasoned that the policy was issued in good faith and that the plaintiff had not been misled or deceived in any way. The Court also noted that the policy was issued in accordance with the terms of the insurance company's standard policy, and that the plaintiff had not taken any action to repudiate the policy. The Court concluded that the policy was valid and enforceable, and that the plaintiff was entitled to recover the amount of money lost due to theft.

In Insurance Company v. Eggleston, the Supreme Court was asked to decide whether a contract of insurance had been breached by an insured party when they failed to provide notice of their claim within the time period specified in the policy. The majority opinion held that since there was no evidence that the insurer had suffered any prejudice as a result of not receiving timely notice, and because it could be assumed that such prejudice would have occurred if proper notice had been given, then there was no breach on behalf of the insured party. Justice Field dissented from this opinion and argued that regardless of whether or not actual prejudice resulted from late notification, failure to comply with contractual terms should still constitute a breach. He further noted that while insurers may choose to waive certain conditions for filing claims without suffering any harm themselves, they are under no obligation to do so; thus allowing them greater control over how their policies are enforced and ensuring fairness between both parties involved in these types contracts.