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Fungible - Dictionary Definition and Overview |
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Fungible : adj : of goods or commodities; freely exchangeable for or
replaceable by another of like nature or kind in the
satisfaction of an obligation
(noun)
1: a commodity that is freely interchangeable with another in
satisfying an obligation
Based on WordNet 2.0
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FUNGIBLE. A term used in the civil, French, and Scotch law, it signifies
anything whatever, which consists in quantity, and is regulated by number,
weight, or measure; such as corn, wine, or money.. Hein. Elem. Pand. Lib.
12, t. 1, Sec. 2;.1 Bell's Com. 225, n. 2; Ersk. Pr. Scot. Law, B. 3, t. 1,
Sec. 7; Poth. Pret de Consomption, No. 25; Dict. de Jurisprudence, mot
Fongible Story, Bailm, Sec. 284; 1 Bouv. Inst. n. 987, 1098.
Based on WordNet (r) 2.0 (August 2003)
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