Morgan v. Campbell, Assignee is a United States Supreme Court case from 1878. The case involved a dispute between two parties over a contract for the sale of a steamboat. The plaintiff, Morgan, had contracted to sell the steamboat to the defendant, Campbell, who had assigned the contract to another party. Morgan argued that the assignment was invalid and that he was still entitled to payment from Campbell. The Supreme Court held that the assignment was valid and that Morgan was not entitled to payment from Campbell. The Court reasoned that the assignment was valid because it was made in good faith and for a valuable consideration. Furthermore, the Court held that the assignment was binding on Morgan because he had accepted the consideration and had not objected to the assignment. In conclusion, the Supreme Court held that the assignment was valid and that Morgan was not entitled to payment from Campbell. The Court reasoned that the assignment was valid and binding on Morgan because it was made in good faith and for a valuable consideration, and Morgan had accepted the consideration and had not objected to the assignment.

Justice Field delivered the dissenting opinion in Morgan v. Campbell, Assignee. He argued that a contract between two parties should be enforced as written and not interpreted by courts to mean something else than what was agreed upon by both parties. In this case, the plaintiff had loaned money to the defendant with an agreement that it would be paid back with interest at a certain rate over time. The court majority held that because of inflationary pressures on currency during this period, they could reduce the amount of interest due from what was originally agreed upon in order for justice to prevail; however Justice Field disagreed and argued that such action constituted judicial legislation which he believed violated separation of powers principles established under our Constitution. He further noted how allowing courts to interpret contracts differently than their plain language could lead down a slippery slope where any contract can be subjectively reinterpreted according to changing economic conditions or other external factors beyond those contemplated when it was first entered into by both parties - thus undermining contractual certainty and predictability essential for commerce and business transactions within our society today