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Simple English definitions for legal terms
res fungibiles
Read a random definition: a non habente potestatem
A quick definition of res fungibiles:
Res fungibiles are things that can be easily exchanged for other similar things in commerce. For example, if you have a bag of rice, you can exchange it for another bag of rice of the same quality and quantity. This term comes from Latin and is used in civil law.
A more thorough explanation:
RES FUNGIBILES
Res fungibiles are things that can be easily exchanged for something else of the same kind. In other words, they are commercially interchangeable.
- Money
- Grain
- Oil
For example, if you have a dollar bill, you can exchange it for another dollar bill and it will have the same value. The same goes for grain and oil. These things are fungible because they can be easily exchanged for something else of the same kind.