Leeds v. The Marine Insurance Company of Alexandria was a case heard by the United States Supreme Court in 1817. It concerned an insurance policy taken out by John Leeds, who had insured his ship against loss or damage while it was at sea. After the ship encountered a storm and sustained significant damage, Leeds sought to recover from the insurer for his losses but they refused to pay on grounds that he had not provided them with sufficient notice of the voyage prior to its departure as required under their contract. The court held that although there were some discrepancies between what Leeds told them and what actually happened during the voyage, these did not amount to material misrepresentations which would have voided his claim since they were minor details which could not be said to have influenced their decision-making process when deciding whether or not to insure him in this instance. As such, they found in favor of Leeds and ordered payment from the insurer for damages incurred due to their breach of contract.

Justice Story, in his dissenting opinion for Leeds v. The Marine Insurance Company of Alexandria, argued that the Court should have found in favor of the plaintiff on their claim against the defendant insurance company. He reasoned that although there was no express warranty or contract between them, a reasonable interpretation of their agreement would imply an obligation to pay out on claims made by insured parties when losses occurred due to perils covered under their policy. Justice Story further noted that even if this were not so and there had been no implied promise from either party, it would still be unjust for an insurer to deny coverage after having accepted premiums without any clear exclusionary language in place beforehand. Therefore he concluded that justice demanded a ruling which favored the plaintiff's position and allowed them compensation for damages suffered as a result of events beyond their control.