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• Goods must be kept separate--fungible goods. ...
• (1) Unless the warehouse receipt otherwise provides, a warehouseman must keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods except that different lots of fungible goods may be commingled. ...
• (2) Fungible goods so commingled are owned in common by the persons entitled thereto and the warehouseman is severally liable to each owner for that owner's share. Where because of overissue a mass of fungible goods is insufficient to meet all the receipts which the warehouseman has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated. ...

•   Goods must be kept separate--Fungible goods. (1)      Unless the warehouse receipt otherwise provides, a warehouseman must keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods except that different lots of fungible goods may be commingled.
•              (2)      Fungible goods so commingled are owned in common by the persons entitled thereto and the warehouseman is severally liable to each owner for that owner's share. Where because of overissue a mass of fungible goods is insufficient to meet all the receipts which the warehouseman has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated.

• The EcoPort Foundation Fungible.
• You are at: EcoPort Foundation: List of Footnote Clauses: Fungible.

• Goods Must Be Kept Separate; Fungible Goods. ...
• Goods Must Be Kept Separate; Fungible Goods.
• (a) Unless the warehouse receipt otherwise provides, a warehouseman must keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods, except that different lots of fungible goods may be commingled.
• (b) Fungible goods so commingled are owned in common by the persons entitled to them, and the warehouseman is severally liable to each owner for that owner's share. If, because of overissue, a mass of fungible goods is insufficient to meet all the receipts which the warehouseman has issued against it, the persons entitled include all holders to whom overissued receipts have been duly negotiated.

• ST 1979-01 -  APPLICATION TO FUNGIBLE GOODS - July 23, 1979.
• In both the Richardson-Merrill and Emery decisions, the court had extended the primary use concept (previously applied to non-fungible items only) to the purchases of fungible goods. The effect was to exempt the entire purchase amount of fungible goods when the primary use of the goods was in an exempt manner.
• The Court, in overruling their previous decisions (which determined the taxable status of fungible goods purchased on the primary use basis), said that the primary use test cannot be used to permit a consumer, merely by failing to separate or apportion fungibles used for mixed taxable and non-taxable purposes, to escape payment of tax clearly contemplated by the statute when any reasonable means can be used to apportion the purchases of fungible goods between taxable and non-taxable purposes.
• Goodrich case involved a direct payment permit holder, the elimination of the primary use test for fungible goods is a decision applicable to all consumers. The taxable portion of fungible goods will be determined and will be subject to the application of the proper rate of sales or use taxes.

• It's time for a little fun understanding "fungible".
• Life as an economist would be significantly less frustrating if more people understood the simple word "fungible. " Coming from the same Latin root as "function," two things are fungible if one can serve some purpose just as well as the other.
• First-year law students learn the term in commercial law courses where they are taught that people running public warehouses have to keep their customers' property separate unless the goods are "fungible. ...
• The important lesson for economics is that when goods are fungible, making or maintaining false distinctions as to source or purpose is meaningless.
• Money and commodities such as corn, crude oil and gasoline are highly fungible. ...
• Money is even more fungible than oil and corn. ...
• Lesson: When dealing with money or any other "fungible commodity" one's options frequently are pretty limited. ...

• fungible \FUHN-juh-buhl\, adjective:.
• But tax monies are really fungible. ...
• The setting is Ireland in the 1950's, but, a cynical reader might reflect, this sort of fiction is so common that the characters will be completely fungible. ...
• Genuine eros makes us desire a particular person; crude desire is satisfiable by fungible bodies. ...
• Fungible comes from Medieval Latin fungibilis, from Latin fungi (vice), "to perform (in place of). ...
• com Entry and Pronunciation for fungible.

• fungible \FUN-juh-bul\, adjective:.
• Unlike gold or silver, diamonds aren't malleable or even fungible (meaning freely exchangeable for another of like kind). ...
• But tax monies are really fungible. ...
• The setting is Ireland in the 1950's, but, a cynical reader might reflect, this sort of fiction is so common that the characters will be completely fungible. ...
• Fungible comes from Medieval Latin fungibilis, from Latin fungi (vice), to perform (in place of).
• com Entry and Pronunciation for fungible.

• fungible.
• Directory > General Reference > Dictionary > fungible Legal Dictionary.
• Being something (as money or a commodity) one part or quantity of which can be substituted for another of equal value in paying a debt or settling an account (oil, wheat, and lumber are fungible commodities).
• Something that is fungible .
• Directory > Legal > Legal Dictionary > fungible Obscure.
• fungible.
• 1) being of such a nature that one part or quantity may be replaced by another equal part or quantity in the satisfaction of an obligation  oil, wheat, and lumber are fungible commodities.
• Directory > Language > Obscure > fungible WordNet.
• The noun fungible has one meaning:.
• The adjective fungible has one meaning:.
• Directory > Language > WordNet > fungible Mentioned In.
• fungible is mentioned in the following topics: fungibility.

• (Redirected from Fungible) .
• An example of the use of fungibility in economics is gold, which is often said to be fungible. ... Wool on the other hand is less fungible. ...
• For instance, stocks are often listed on several stock exchanges, and a fungible stock would allow you to exchange the shares purchased on one exchange for shares on another. Not all securities are fungible in this way, but those that are somewhat more liquid and protected from volatility on one particular exchange.
• International relations theorists who believe that power is fungible see different types of power as reinforcing each other. For example, if power is fungible, then a state can translate its economic power into military power, and vice versa. ...
• The example he uses is that subatomic particle theory is fungible when studying molecules "provided it led to the same general feature of a replicable molecule. ...

• The development community seems to have swung from a denial that aid is fungible to a belief that all aid is fungible. The facts seem to indicate that aid to Africa is partly fungible. ...
• The notion that aid in this sense may be "fungible" has recently received empirical support.
• Devarajan, Rajkumar, and Swaroop look at why aid is fungible or nonfungible, and the extent to which it is fungible in Sub-Saharan Africa.
• Their results suggest that aid may be partially fungible in Africa and suggest some reasons. ...
• (By contrast, in the worldwide sample, aid to transport and communications was almost fully non-fungible. ...
• Even in these partially fungible sectors, governments spend more out of aid resources than they do out of their own resources, at the margin. ...
• The more donors to a country, the more likely aid is to be fungible. If the number of donors represents a proxy for monitoring costs, it is not surprising that most aid is partly fungible.

• fungible's Profile Name: Tom Patterson.
• member since: October 22, 2002 fungible has posted 11 links and 367 comments to MetaFilter.

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