What does fungible mean in business?
Fungibility is the ability of a good or asset to be interchanged with other individual goods or assets of the same type. Fungible assets simplify the exchange and trade processes, as fungibility implies equal value between the assets.
What is a fungible good?
(4) Fungible good or fungible material The term “fungible good” or “fungible material” means a good or material, as the case may be, that is interchangeable with another good or material for commercial purposes and the properties of which are essentially identical to such other good or material.
How do you use fungible in a sentence?
Fungible in a Sentence ?
- On the diet plan, the two vegetables are fungible so you can eat either one without changing your calorie count.
- The two automobiles are not fungible because one vehicle is worth more than the other vehicle.
What is an example of something that is fungible?
Commodities, common shares, options, and dollar bills are examples of fungible goods. Assets like diamonds, land, or baseball cards are not fungible because each unit has unique qualities that add or subtract value.
What is the opposite of fungible?
Opposite of able to be substituted for something of equal value or utility. noninterchangeable. incompatible. unsubstitutable.
What is the best example of a fungible good?
What is an example of a fungible item?
Fungible goods are items that are interchangeable because they are identical to each other for practical purposes. Commodities, common shares, options, and dollar bills are examples of fungible goods.
What is fungible law?
Primary tabs. Fungible things are items that can be easily replaced with another item that is practically the same, such as wood or paper currency. Often, whether or not an item is fungible will impact how damages will be calculated for breaches of contract or the destruction of an item.
What is fungible things in law?
n. sometimes merely called “fungibles” they are goods which are interchangeable, often sold or delivered in bulk, since any one or load is as good as another.
What is fungible evidence?
Fungible evidence essentially means that the evidence is easily replicated or not possessing unique characteristics that one can easily determine. For example, how does someone tell the difference between two identical blood droplets?
Are Diamonds fungible?
Assets like diamonds, land, or baseball cards are not fungible because each unit has unique qualities that add or subtract value. For instance, because individual diamonds have different cuts, colors, sizes, and grades, they are not interchangeable, so they cannot be referred to as fungible goods.
What is another word for fungibly?
Synonyms for fungible. commutable, exchangeable, interchangeable, substitutable, switchable.
What is the noun for fungible?
The word ‘fungible’ is an adjective. The noun is ‘fungibility’ . Before a commodity can be traded on a commodity exchange it must be fungible. One bar of gold must be tradable or exchangeable for another bar of gold, or two bars that are half the size and weight.
What is fungible things?
Definition and examples Examples of fungible. Examples of fungible goods include oil, bonds, gold and other precious metals, money, and unopened items of consumer products on store shelves such as boxes of oatmeal Fungilibity vs. liquidity. Fungible sometimes subjective. Imagine you borrow $10 from Alice. Other cases of fungibility or non-fungibility.
What is the antonym of functional?
functional(adj) designed for or capable of a particular function or use. “a style of writing in which every word is functional”; “functional architecture”. Antonyms: nonstructural, impractical, decorative, unserviceable, malfunctioning, nonfunctional, ornamental, cosmetic, organic.