How do you use fungible in a sentence?

Fungible in a Sentence 🔉

1. On the diet plan, the two vegetables are fungible so you can eat either one without changing your calorie count.
2. The two automobiles are not fungible because one vehicle is worth more than the other vehicle.

How do you use fungible?

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.

What does it mean when a person is fungible?

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 an example of a fungible good?

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 another word for fungible?

What is another word for fungible?

exchangeable	switchable
substitutable	changeable
convertible	swappable
transposable	replaceable
interconvertible	reciprocal

What is fungible Blockchain?

An asset is considered fungible when its units are interchangeable with one another, meaning they are indistinguishable. In other words, an asset class is fungible when each unit of the asset has the same validity and market value. In general, most cryptocurrencies are considered fungible assets.

Are houses fungible?

Examples of Fungible assets in a sentence Fungible assets are individual units that are interchangeable (e.g., company share and gold), while non-fungible assets represent unique assets (e.g., cars, patents, houses).

What is the opposite of fungible?

Opposite of able to be substituted for something of equal value or utility. noninterchangeable. incompatible. unsubstitutable.

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.

Are Bitcoins fungible?

Bitcoin and other cryptocurrencies are the most prominent uses of blockchain technology, and they’re examples of fungible tokens. If you send somebody a Bitcoin and they send you one back, it doesn’t have to be the same Bitcoin, just as with the ten-pound note.

Can a person be fungible?

What is People Fungibility? People fungibility is the opposite of specialization. Such people are not even “T-shaped”; they are “squares”. Fungibility refers to the idea that any product engineer should be exchangeable with any other product engineer, for a given type of product.

Is fungible a legal term?

A description applied to items of which each unit is identical to every other unit, such as in the case of grain, oil, or flour. Fungible goods are those that can readily be estimated and replaced according to weight, measure, and amount.

What does fungible mean?

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.”

What is fungible mean in term of financial?

A financial instrument (such as a stock, bond, or futures contract) is considered fungible if it can be bought or sold on one market or exchange, and then sold or bought on another market or exchange. In a broader sense, fungibility is the ability to substitute one unit of a financial instrument for another unit of the same financial instrument .

What is example of fungible goods?

Fungible goods include money, oil, bonds and unopened consumer items on store shelves, such as boxes of cereal, oatmeal and yogurt. Fungible goods classify as such if they have identical value and properties of other items.

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.