Legal Definition of fungible
Definition of fungible
From Latin fungor "discharge a duty" and -ible "able to".
fungible (comparative more fungible, superlative most fungible)
- (finance and commerce) Able to be substituted for something of equal value.
* 1876 , Samuel Dana Horton, Silver and Gold and Their Relation to the Problem of Resumption, p. 116,
Gold is fungible. Silver is fungible; that is, these metals are both so homogeneous that, if I get a pound of pure gold, for example, it is indifferent to me whether it be this pound or that pound, one is as good as another
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