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1. Law Returnable or negotiable in kind or by substitution, as a quantity of grain for an equal amount of the same kind of grain.
often fungibles Law Something that is fungible.
[Medieval Latin fungibilis, from Latin fungī (vice), to perform (in place of).]
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.