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Simple English definitions for legal terms
fungible things
Read a random definition: statement of prior-art references
A quick definition of fungible things:
Fungible things are items that can be easily replaced with another item that is practically the same. This means that if something is lost or damaged, it can be replaced with something that is very similar. Examples of fungible things include wood or paper currency. When something is fungible, it is easy to calculate how much it would cost to replace it. However, if something is not fungible, like a house, it is much harder to replace it exactly as it was before.
A more thorough explanation:
Fungible things are items that can be easily replaced with another item that is practically the same. This means that if one item is lost or destroyed, it can be replaced with another item that is identical in value and quality. Examples of fungible things include wood, paper currency, and oil.
When it comes to legal matters, whether or not an item is fungible can impact how damages will be calculated for breaches of contract or the destruction of an item. For example, if a window is broken, it is easy to calculate how much it would cost to replace it with a new one. However, if an entire house is destroyed, a judge cannot simply order someone to replace the house in its entirety as it originally was.
Overall, fungible things are important to consider in legal matters because they can impact how damages are calculated and what can be done to remedy a situation.