1 definition by Chuck Norris's Grandson

Top Definition
Getting out of a sticky situation. Quoted from the first Pirates of the Caribbean, when Jack Sparrow is literally about to get his ass handed to him, but before he gets pwoned he quotes the pirate law of parlay, where if a pirate shouts this he and his party cannot be harmed.
this can be used in many situations today, such as not getting sacked from work, or splitting up with your girlfriend just to name a few.
Jenny - ' Johnny our relationship isn't working. I think we should see other people. let's spli..'

Johnny - ' PARLAYYYYY!!!!!!!'

Jenny - ' Dammit not again...'
by Chuck Norris's Grandson January 25, 2011

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