Definition of "Fungible"

Bobbie Callahan real estate agent
Bobbie Callahan, Real Estate Agent Raleigh Custom Realty

Goods that are freely substitutable. It is goods of a given class or type, any unit of which is as acceptable as another, and capable of satisfying an obligation expressed in terms of the class. For example, bushels of rice are fungibles, while parcels of real estate are not.

 

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