"Borrowing" someones possesions at a sleepover or get-together and then keeping the item for a long period of time in hopes to remain friends with the group the item was "borrowed" from.
Jake is holding Henry's Zelda: Twighlight Princess for randsom in hopes to remain friends with the group, talk about friend collateral.
by Robert Segrin December 12, 2007
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"Borrowing" a persons possession during a get together or sleepover, and then holding it randsom so they still remain friends with said "borrower".
Henry: "Hey Jake could I have my Zelda:Twilight Princess back, I think I left it at your house last week".
Jake: "Sure, I'll bring it in tommorow"
3 weeks later......
Henry: "Hey thanks,Mike, for selling me your Zelda:Twilight Princess for 20 bucks".
Jake: "Wait, you wanted that back? Why didn't you ask"?
Henry: "..............damn friend collateral"
by Robdar102 December 6, 2007
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"Borrowing" someones possesions at a sleepover or get-together and then keeping the item for a long period of time in hopes to remain friends with the group the item was "borrowed" from.
Jake is holding Henry's Zelda: Twighlight Princess for randsom in hopes to remain friends with the group, talk about friend collateral
by Robert Segrin December 12, 2007
Get the friend collateral mug.
Someone all your friends like so you act like you like them too even though you'd never hang out with just them. A friend of a friend who you feel obliged to invite to group gatherings so as not to offend your actual friends. Includes friend's significant others.
Yeah honey, I've invited Jerry, Dave and George, guess we better invite our collateral friend too. What's Steve's number again?
by Aylusia October 23, 2017
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