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3.
(verb) Palance is a Trinidadian dialect term which means 'to party and have fun'. It is closely related to the term 'lime' but, unlike a lime which involves hanging out with friends, palancing involves having extreme fun (most typically in a party setting) and can be done on one's own, or with friends as well.

The term, though gaining major popularity during the 2010 Carnival due to the song of the same name (by JW and Blaze), has been around for a long time. The term reportedly was created by the radio DJs JW and Blaze a few years ago and used on their radio programmes. JW has said that the term originated based partially on use/meaning of the word parlance.
1. Las night we rel palance in de party!

2. I feel I go palance by mehself today, goin an take in a lil fun an ting.

3. Leh we plan a lime nah? We go rel palance wen we limin in she concert.
by Ken Ping May 19, 2010
 
1.
a word used by trinidadians to reflect a sense of enjoyment, fun, partying, and any other sort of liming
last night we rel palance in de zen!!
by Xplicit Mevon December 30, 2008
 
2.
A term used by Trinidadians which originated from three words which are PArty, Lime ANd danCE and hence the term palance.
We had a big palance last night.
by drebel_3 February 15, 2010