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Adjective: commutable  ku'myoo-tu-bul
  1. Subject to alteration or change
    "the death sentence was commutable to life imprisonment"
     
  2. Capable of being exchanged for another or for something else that is equivalent
    "The commutable train tickets could be used on any line";
    - substitutable

See also: alterable, convertible, exchangeable, transformable, translatable, transmutable

Antonym: incommutable