fungible goods

Definition of "fungible goods"
  1. Commodities that are interchangeable by nature or established trading norms, where each unit is equal in value to another unit of the same type
How to use "fungible goods" in a sentence
  1. Crude oil, wheat, or rice can be considered as fungible goods since one unit is as good as another.
  2. Real estate is not among fungible goods because no two properties are exactly alike in value, location or characteristics.
  3. Markets for fungible goods like gold or silver are typically very liquid with large volumes traded daily.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z