Nathaniel Lord brought a case against John W. Veazie in the Supreme Court of the United States, claiming that he was entitled to damages for breach of contract. The contract between them stated that Veazie would pay Lord $1,000 if he could prove title to certain land within one year from the date of their agreement. After proving his title, Lord demanded payment but Veazie refused and argued that there had been no consideration given by him since it was not necessary for him to do anything other than wait until proof was provided by Lord. The court disagreed with this argument and held that although nothing required Veazie to act during the period before proof was presented, his promise constituted sufficient consideration as it bound both parties in an enforceable obligation under law. As such, they ruled in favor of Lord and ordered compensation for breach of contract be paid out accordingly.

In the case of Nathaniel Lord v. John W. Veazie, the Supreme Court was asked to decide whether a contract between two parties could be enforced when one party had not received full payment for their services as agreed upon in the contract. The majority opinion held that since there was no evidence of fraud or misrepresentation on either side, and both parties were competent adults who entered into an agreement voluntarily, then it should be enforced even if only partial payment had been made by one party at the time of dispute resolution. However, Justice McLean dissented from this opinion and argued that contracts must always be performed according to their terms; thus any failure to make full payment would render them unenforceable unless some special circumstances existed which allowed for such a deviation from contractual obligations. He further stated that while courts may have discretion in certain cases where enforcement is sought despite non-payment due to extenuating circumstances beyond either party's control, they cannot do so without sufficient proof being presented before them showing why such action is necessary or appropriate under those particular conditions.