The U.S. Supreme Court case Louisville & Nashville Railroad Co. v. F.W. Cook Brewing Co., 1911, revolved around a dispute between the railroad company and the brewing company over freight charges for beer transportation across state lines from Indiana to Florida under an agreement made in 1907. The brewing company argued that they were overcharged based on rates set by the Interstate Commerce Commission (ICC). However, these rates had been established after their contract with the railroad was signed and thus did not apply retroactively according to common law principles of contracts at that time. The court ruled in favor of Louisville & Nashville Railroad Company stating that ICC's rate-setting power does not have retrospective effect unless explicitly stated by Congress; hence it cannot affect existing contracts or agreements made prior to its establishment or revision of rates.

The dissenting opinion in the case of Louisville & Nashville Railroad Co. v. F.W. Cook Brewing Co., argued that the majority's decision to allow a railroad company to charge different rates for transporting goods based on their final destination was unjust and violated principles of fair trade practices. The dissenters believed that allowing such differential pricing would lead to monopolistic practices, as it could enable large companies with more bargaining power to negotiate lower prices than smaller competitors, thereby driving them out of business. They also contended that this ruling contradicted previous court decisions which had established equal treatment under law as a fundamental principle in commerce regulation, arguing that all businesses should be charged equally for similar services regardless of their size or destination market.