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When a male and female are in relations with one another. This is not strictly sexual, but typically points to a sexual basis. Other forms exist, such as: "yankable" "lets yank" "I would yank him" "I caught them yankin' the chain last night"
"Did you hear about Laura and Kevin?"

"Yeah! They are definitely yankin' the chain!"
by Free_Swilley January 02, 2014
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