What does fungible mean?

Definition of fungible (Entry 2 of 2) : something that is fungible (see fungible entry 1 sense 1) : a good one part or quantity of which can be substituted for another of equal value in satisfying an obligation —usually used in pluralFungibles may be valued by weight or measure.

What is a fungible commodity?

Fungible - which derives from the Latin verb fungi, meaning "to perform (no relation to the noun "fungus" and its plural "fungi") - is a word that often shows up in legal contexts. Something fungible can be exchanged for something else of the same kind. For example, we could say "oil is a fungible commodity.". That means...

What is the difference between fungibility and non-fungibility?

The line between fungibility and non-fungibility may be a thin one. Gold is generally considered fungible (one gold ounce is equivalent to another gold ounce), though in some cases, it is not. When otherwise fungible goods are given serial numbers or other uniquely identifying marks, they may no longer be as fungible.

What is the fungible part of a story?

If you're from a family, you already know how fungible they can be, with siblings offering contrasting views of past events. Rather, he is one of many fungible moving parts that drive the story forward, like cogs in a well-oiled machine. Patents expire, trade secrets leak, talent walks, and technology is largely fungible.