fungible

Merriam-Webster's Word of the Day for July 13, 2013 is: fungible • \FUN-juh-bul\  • 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." See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.