extinction of a thin

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extinction of a thin - Bouvier's Law Dictionary, Revised 6th Ed (1856) :

  EXTINCTION OF A THING. When a thing which is the subject of a contract has 
  been destroyed, the contract is of course rescinded as, for example, if Paul 
  sell his horse Napoleon to Peter, and promises to deliver him to the buyer 
  in ten days, and in the mean time the horse dies, the contract is rescinded, 
  as it is impossible to deliver a thing which is not in esse; but if Paul 
  engage to deliver a horse to Peter in ten days, and, for the purpose of 
  fulfilling his contract, he buys a horse and it die, this is no cause for 
  rescinding the contract, because he can buy another and complete it 
  afterwards. When the subject of the contract is an individual, and not 
  generally one of a species, the contract may be rescinded; when it is one of 
  a species which has been destroyed, then, it may still be completed, and it 
  will be enforced. Lec. El. Dr. Rom. Sec. 1009.