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1.
A term used to say that instead of intimacy in a relationship, you can get the sex for free( via slut, whore, prostitute, etc.) Also in the statement, " Why buy the cow, when you can get the milk for free?"
From RvB

Caboose: My dad always said " Why buy the cow, when you can get the milk for free?"
Church: Hey Rookie. Did you just call my girfriend a cow?
Tucker: No dude, I think he called her a slut.
by Secret Justin January 26, 2007