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Spokane, Washington  Est. May 19, 1883
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A Word A Day — fungible

 

Good afternoon Netizens...

 

July 13, 2013

Word of the Day

  • fungible

  • audio pronunciation

  • \FUN-juh-bul\

  • DEFINITION

  •  

adjective

1

: being of such a nature that one part or quantity may be replaced by another equal part or quantity in the satisfaction of an obligation

2

: interchangeable

3

: flexible

  • EXAMPLES

  •  

Since fruits and vegetables are regarded as fungible in this diet, you are allowed a total of five servings of either or both.

"Oil is a fungible commodity and its prices are determined in the global market." — From an article by Gal Luft in The Wichita Eagle (Kansas), May 30, 2013

  • DID YOU KNOW?

  •  

"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 and political contexts. Something fungible can be exchanged for something else of the same kind. For example, when we say "oil is a fungible commodity," we mean that when a purchaser is expecting a delivery of oil, any oil of the stipulated quantity and quality will usually do. Another example of something fungible is cash. It doesn't matter what twenty dollar bill you get — it's still worth the same amount as any other twenty dollar bill. In contrast, something like a painting isn't fungible; a purchaser would expect a specific, identifiable item to be delivered. In broader use, "fungible" can mean "interchangeable" or sometimes "changeable, fluid, or malleable."

Dave



Spokesman-Review readers blog about news and issues in Spokane written by Dave Laird.