Word of the Day : August 7, 2018

fungible \FUN-juh-bul\ adjective

Definition

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

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 work of art isn't fungible; a purchaser would expect a specific, identifiable item to be delivered. In broader use, fungible can mean "interchangeable," or sometimes "readily changeable to adapt to new situations."

Aired August 7, 2018

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