Insurance Companies v. Weides was a case heard by the United States Supreme Court in 1871. The case involved a dispute between two insurance companies and a policyholder, Weides. Weides had taken out a policy with one of the companies, but the policy was later cancelled. Weides then took out a policy with the other company, which was also later cancelled. Weides then sued both companies for breach of contract. The Supreme Court held that the insurance companies were not liable for breach of contract because the policies had been cancelled before Weides had taken out the second policy. The Court reasoned that the companies had acted in good faith and had not intended to deceive Weides. The Court also held that the companies had not acted in bad faith by cancelling the policies, as they had done so in accordance with their contractual rights. The Court's decision in Insurance Companies v. Weides established that insurance companies are not liable for breach of contract when they cancel a policy in accordance with their contractual rights. This decision has been cited in numerous subsequent cases involving insurance companies and policyholders.

In Insurance Companies v. Weides, the Supreme Court was asked to decide whether a contract between two insurance companies and an individual could be enforced in court. The majority opinion held that the contract was valid and enforceable because it had been entered into with full knowledge of its terms by both parties. However, Justice Field dissented from this decision on the grounds that contracts made for illegal purposes are not binding under law. He argued that since one of the objectives of this particular agreement was to evade state laws regulating insurance rates, it should not be recognized as legally binding or enforceable in court. Furthermore, he noted that such agreements were detrimental to public policy and should therefore not receive judicial sanctioning or protection from courts of law.