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1.
1. To rip someone off, or to be ripped off.

2. A person who rips people off, or takes advantage of others.

3. Failed to meet expectations.

4. Any disappointing situation.

Variant of chince.
"Dude, I got chonced."

"Don't buy from Johnny, he's a fucking chonce."

"Harewood Sevi has choncey slurpees."

"Tuck chonced-out again."
by Harewood English January 26, 2008
 
2.
Stupid, Annoying, Boring
My teacher told me she would fail me if I didn't serve a detention today. How chonce is that?
by D-res June 22, 2005