What do you call goods of a homogeneous nature that are sold by weight or measure?

The term that describes goods of a homogeneous nature, which are sold by weight or measure, is "fungible goods." These goods can be exchanged on the basis of their quantity and value, rather than their individual characteristics. For instance, agricultural products like grains, fuel, and certain metals are considered fungible because one unit is essentially interchangeable with another of the same type, making them easy to trade.

This concept is crucial in various fields, including law and economics, where the interchangeability of goods plays a significant role in contracts and transactions. The classification of goods as fungible is often integral to determining ownership and the terms of sale.

In contrast, identified goods refer to items that are specific and can be distinguished from others, while existing goods involve items that are currently in existence and available for sale, but do not necessarily specify their interchangeability. Homogeneous goods, while similar in nature, do not encompass the broader aspect of tradeability by weight or measure. Thus, the definition of fungible goods best captures the essence of goods that are sold in this manner.