1. A statement of agreement.
2. A phrase used to claim something--beer, the opposite sex, food...
3. A word that you say when you don't have anything else to say.
In normal cases Dibs is a stupid game that children play with things that they can't actually have, but among the people of The Mals Nation it's an entirely different story. Dibs is a legally binding statement. Once the announcement has been made that one has "Dibs" on anything (living or not) it cannot be disputed.