Fungible
/ˈfʌndʒɪbəl/
Definitions
- (adj.) Capable of being exchanged or replaced by another identical item.
Money is fungible because any dollar bill is interchangeable with another.
- (adj.) Of goods or assets, interchangeable and not individually distinguishable.
Fungible goods like grain can be substituted with goods of the same type and quality.
Related terms
Commentary
Use 'fungible' to denote items or assets that are mutually interchangeable in legal or commercial contexts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.