# Last edited on 2014-03-20 23:57:01 by stolfilocal

Suppose that another investor Y lends for two years his old car, worth 20,000$, to a taxicab company, that promises to give him in return a newer and better car worth 30,000$.   Before that happens, a fire destroys the old car, and the company goes bankrupt. By this time, the market price of that old car, if it had not been destroyed, would be just 10,000$, while the price of the new car is 40,000$.  What can Y claim to be owed: 10,000$, 20,000$, 30,000$, or 40,000?