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fungible - 5 dictionary results

fun⋅gi⋅ble

  [fuhn-juh-buhl]
Use fungible in a Sentence
–adjective Law.
(esp. 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:
1755–65; < ML fungibilis, equiv. to L fung(ī) to perform the office of + -ibilis -ible

Related forms:
fun⋅gi⋅bil⋅i⋅ty, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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fun·gi·ble   (fŭn'jə-bəl)   
adj.  
  1. Law Returnable or negotiable in kind or by substitution, as a quantity of grain for an equal amount of the same kind of grain.
  2. Interchangeable.
n.  Something that is exchangeable or substitutable. Often used in the plural.

[Medieval Latin fungibilis, from Latin fungī (vice), to perform (in place of).]
fun'gi·bil'i·ty n.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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fungible

Of or relating to assets that are identical in quality and are interchangeable. Commodities, options, and securities are fungible assets. For example, an investor's shares of Xerox left in custody at a brokerage firm are freely mixed with other customers' Xerox shares. Likewise, stock options are freely interchangeable among investors, and wheat stored in a grain elevator is not specifically identified as to its ownership.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Main Entry: fun·gi·ble
Pronunciation: 'f&n-j&-b&l
Function: adjective
Etymology: New Latin fungibilis, from Latin fungi to perform
: 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 fungible commodities>

Main Entry: fungible
Function: noun
: something that is fungible
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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