Top definition
A term used to refer to an object that no longer has value in its entirety, and should be should be considered a sunk asset.

Parts of it could have material value, but it is largely immaterial, junk.
Dale: “Daddy, gotta ‘scrap the caddy’ on that washing-machine, fell out the truck”.

Father: “yeah, ‘scrap the caddy’”
via giphy
by WebstersBest February 22, 2018
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