fungible

play

noun fun·gi·ble \ˈfən-jə-bəl\

Definition of fungible

: something that is fungible —usually used in plural

Circa 1765

First Known Use of fungible

circa 1765

fungible

adjective fun·gi·ble

Definition of fungible

1 : being of such a nature that one part or quantity may be replaced by another equal part or quantity in the satisfaction of an obligation <oil, wheat, and lumber are fungible commodities>
2 : interchangeable
3 : flexible 3

fungibility play \ˌfən-jə-ˈbi-lə-tē\ noun

Examples of fungible in a sentence

<since fruits and vegetables are regarded as fungible in this diet, you are allowed a total of five servings of either or both>

Did You Know?

Fungible - which derives from the Latin verb fungi, meaning "to perform (no relation to the noun "fungus" and its plural "fungi") - is a word that often shows up in legal contexts. Something fungible can be exchanged for something else of the same kind. For example, we could say "oil is a fungible commodity." That means that when a purchaser is expecting a delivery of oil, any oil of the stipulated quantity and quality will usually do. Another example of something fungible is cash. It doesn't matter what twenty dollar bill you get - it's still worth the same amount as any other twenty dollar bill. In contrast, something like a painting isn't fungible; a purchaser would expect a specific, identifiable item to be delivered. In broader use, "fungible" can mean "interchangeable" or sometimes "changeable, fluid, or malleable."

Origin of fungible

New Latin fungibilis, from Latin fungi to perform — more at function

First Known Use: 1818

Law Dictionary

fungible

adjective fun·gi·ble \ˈfən-jə-bəl\

Legal Definition of fungible

: being something (as money or a commodity) one part or quantity of which can be substituted for another of equal value in paying a debt or settling an account <oil, wheat, and lumber are fungible commodities>