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{{def|Fungible|/fʌnʤəbl/|adj|}}In all respects other than its most basic [[ontology]], identical. For all intents and purposes, entirely interchangeable, but not the same thing. | {{def|Fungible|/fʌnʤəbl/|adj|}}In all respects other than its most basic [[ontology]], identical. For all intents and purposes, to all men and women, ''but not pedants'', entirely interchangeable. Interchangeable; undifferentiable, sure: ''but not the same thing''. Until recently, fungible was a word that only really found purchase in the world of transferable [[securities]], where it means of the same issue, and having the same securities identification number — thus satisfying all the practical world bar those concerned with balance sheets and financial reporting, who like the comfort of knowing a security which comes back to you which is economically identical to the one you sent out, might not ''be'' the one you sent out, but that is still okay. Two fungible instruments are distinct but nevertheless indistinguishable in legal and economic terms. The same, but not, if you see, the ''same''. | ||
So, the key takeaway for nervous types is this: “Fungible” does not mean “somewhat like”. It means ''identical''. The term of securities transfer art “[[equivalent]]” means “entirely fungible”. Not just “broadly similar”. | |||
There are great divides in the bedeviling [[pedantry]] of law, between things that are the ''same'' but somehow, over a period of time, ''different''; things that are ''different'' but nonetheless at a given point in time, the same; and — in recent days — things that don’t exist at all, but being unique representations of that nothing on a [[blockchain]], in a [[Cartesian]] sense ''do'' exist, but weakly, and only along the very single fragile dimension that they are [[ontologically]] distinct. [[Amend]]ment describes that first class; [[fungibility]] the second; credulous gulls the third. | There are great divides in the bedeviling [[pedantry]] of law, between things that are the ''same'' but somehow, over a period of time, ''different''; things that are ''different'' but nonetheless at a given point in time, the same; and — in recent days — things that don’t exist at all, but being unique representations of that nothing on a [[blockchain]], in a [[Cartesian]] sense ''do'' exist, but weakly, and only along the very single fragile dimension that they are [[ontologically]] distinct. [[Amend]]ment describes that first class; [[fungibility]] the second; credulous gulls the third. | ||
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*[[Amendment]] | *[[Amendment]] | ||
*[[Equivalent]] | *[[Equivalent]] | ||
*[[Non-fungible token]] | |||
*[[Deem]]ing | *[[Deem]]ing | ||
*[[True sale opinion]] | *[[True sale opinion]] | ||