Smith v. Mason, Assignee is a United States Supreme Court case from 1871. The case involved a dispute between two parties over a promissory note. The plaintiff, Smith, had loaned money to the defendant, Mason, and Mason had given Smith a promissory note in return. Smith then assigned the note to a third party, who then sued Mason for payment. Mason argued that the assignment was invalid because it was not in writing, as required by the Statute of Frauds. The Supreme Court held that the assignment was valid, despite the lack of a written document. The Court reasoned that the Statute of Frauds was intended to protect against fraud, and that the assignment was not fraudulent. The Court also noted that the assignment was made in the presence of witnesses, which provided additional evidence of its validity. The Court concluded that the assignment was valid, and that Mason was liable for payment of the promissory note.

In Smith v. Mason, Assignee, the Supreme Court was asked to decide whether a judgment rendered in favor of an assignee for the benefit of creditors should be set aside due to fraud or mistake. The majority opinion held that such judgments could not be overturned on these grounds because they were final and binding upon all parties involved. However, Justice Field dissented from this decision and argued that it was unjust to deny relief when there had been clear evidence of fraud or mistake presented before the court. He further argued that allowing judgments based on fraudulent claims would encourage unscrupulous behavior by creditors who sought to take advantage of debtors without proper legal recourse available for them. In conclusion, Justice Field believed that courts should have discretion over their decisions in order to protect those who are unable to defend themselves against wrongful actions taken by others.