The actual term, 'Wace' describes someone that is enigmatic, full of humour (e.g. fun) and pretty cool to be around. A 'Wace' can also be used for someone who is completely random. The 'Wace' also tends to be someone that has lots of friends and is easy to get along with - someone you could talk forever with. Can be used in a statement or a questions when referring to someone.
She's a complete Wace
Why is that Wace amazing?
What's the time Wace?
What's that Wace on about?
by D-and-S October 14, 2010
Wace - (way, ce)
To be of no use within socitey and to be neglegent with your desired career.
Joel Is Wace, He has no job, no friends no life.
by Rossco With A Crossbow May 17, 2007

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