Fungible Definition
fŭnjə-bəl
adjective
Returnable or negotiable in kind or by substitution, as a quantity of grain for an equal amount of the same kind of grain.
American Heritage
Designating movable goods, as grain or lumber, units or portions of which are interchangeable, as in discharging a debt.
Webster's New World
Interchangeable.
American Heritage
Of goods or products, that they are all of a kind, not unique, and replaceable by other goods of the same kind; for example, crops are fungible while a painting by Rembrandt is not.
Webster's New World Law
(finance and commerce) Able to be substituted for something of equal value or utility; interchangeable, exchangeable, replaceable.
Wiktionary
noun
A fungible thing.
Webster's New World
Origin of Fungible
-
1765 as noun, 1818 as adjective, from Medieval Latin fungibilis, from Latin fungor (“I perform, I discharge a duty”) (English function) + -ible (“able to”). Originally legal term.
From Wiktionary
Medieval Latin fungibilis from Latin fungī (vice) to perform (in place of)
From American Heritage Dictionary of the English Language, 5th Edition
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