The question used right before making a reference to something. Usually answered sarcastically because the individual being asked already knew the answer or fact. Can be asked in a serious or sarcastic manner but in most cases the individual is serious when asking.
Caroline: Did you know?
Luis: Know what?
Caroline: That Morgan goes to state.
Luis: (Sarcastically) No way! Really? Since when?!
by Orangefrank1 January 16, 2011

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