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Fungible goods definition

Fungible goods means either of the following:
Fungible goods means goods of which any unit is, from its nature or by mercantile custom, treated as the equivalent of any other unit;
Fungible goods means either:

Examples of Fungible goods in a sentence

  • For illustrations of the principles of this subdivision, see paragraph (a)(3)(iv) of§ 1.954–3.(b) Fungible goods.

  • The revision adds the term “default” to the definition.• Fungible goods: This definition is reorganized and references to securities are deleted to reflect other portions of the UCC that no longer use the term “fungible” to describe securities.• Good faith: Currently, this term is defined as honesty in fact in the conduct or transaction concerned.

  • Fungible goods are adequately identified within the language of the definition by identification of the mass of which they are a part.

  • Fungible goods" means goods or securities of which any unit is, by nature or usage of trade, the equivalent of any other like unit.

  • Fungible goods also cannot be described in such detail and are de facto excluded from the present secured financing system.


More Definitions of Fungible goods

Fungible goods means goods that are interchangeable for commercial purposes, whose properties are essentially identical, not practical to distinguish by the naked eye;
Fungible goods means: (A) goods of which any unit, by nature or usage of trade, is the equivalent of any other like unit; or (B) goods that by agreement are treated as equivalent.
Fungible goods means any goods of which any unit is, by nature or usage of trade, the equivalent of any other like unit and are received by a warehouseman as fungible goods;
Fungible goods means goods that are interchangeable for commercial purposes and the properties of which are essentially identical. (produits fongibles)
Fungible goods means any of the following:
Fungible goods means: (A) goods of which any unit, by nature or usage
Fungible goods means goods of which any unit is by nature or usage of trade, the equivalent of any other like unit, and includes unlike units to the extent that they are treated as equivalents under a security agreement;