1

fungible

adjective

Definition of fungible

  1. 1 :  being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account Oil, wheat, and lumber are fungible commodities. fungible goods

  2. 2 :  capable of mutual substitution :  interchangeable … the court's postulate that male and female jurors must be regarded as fungible — George Will

  3. 3 :  readily changeable to adapt to new situations :  flexible Managers typically use more than a hundred different lineups over the course of the season. Batting orders are so fungible that few players last long in one spot. — Tom Verducci

fungibility

play \ˌfən-jə-ˈbi-lə-tē\ noun

fungible was our Word of the Day on 07/13/2013. Hear the podcast!

Origin and Etymology of fungible

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


2

fungible

play
noun fun·gi·ble \ˈfən-jə-bəl\

Definition of fungible

  1. :  something that is fungible (see 1fungible 1) :  a good one part or quantity of which can be substituted for another of equal value in satisfying an obligation —usually used in plural Fungibles may be valued by weight or measure.

Examples of fungible in a Sentence

  1. 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 and Etymology of fungible

see 1fungible


Law Dictionary

1

fungible

adjective fun·gi·ble \ˈfən-jə-bəl\

Legal Definition of fungible

  1. :  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

Origin and Etymology of fungible

New Latin fungibilis, from Latin fungi to perform


2

fungible

noun

Legal Definition of fungible

  1. :  something that is fungible


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