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fungible

[fuhn-juh-buh l] /ˈfʌn dʒə bəl/
adjective, Law.
1.
(especially of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind.
Origin
1755-1765
1755-65; < Medieval Latin fungibilis, equivalent to Latin fung(ī) to perform the office of + -ibilis -ible
Related forms
fungibility, noun
nonfungible, adjective
unfungible, adjective
Can be confused
frangible, fungible.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for fungibility
  • Therefore, increased fungibility of the product improves distribution efficiencies and lowers costs.
  • Another complication raised by the implementation of the ethanol mandate is the loss of fungibility for conventional fuel.
  • Fourth, the regulatory framework needs to account for the fungibility of financial products, actors and markets.
  • However, in the case of money, possession may be the only effective means given its fungibility.
British Dictionary definitions for fungibility

fungible

/ˈfʌndʒɪbəl/
noun
1.
(often pl) moveable perishable goods of a sort that may be estimated by number or weight, such as grain, wine, etc
adjective
2.
having the nature or quality of fungibles
Derived Forms
fungibility, noun
Word Origin
C18: from Medieval Latin fungibilis, from Latin fungī to perform; see function
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for fungibility

fungible

adj.

"capable of being used in place of another," 1818, a word in law originally, from Medieval Latin fungibilis, from Latin fungi "perform," as in fungi vice "to take the place" (see function). Earlier as a noun (1765).

Online Etymology Dictionary, © 2010 Douglas Harper
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