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In a group of friends or a 'gang' these youths will use the term 'Jackanory time' as a joke or some may even take it seriously, anything worth something of value is taken. Normally, handed back within a small amount of time.
example:
Friend 1 - 'What time is it?'
Friend 2 - ' It's Jackanory time!!'
Friend 3 - 'aha PEAK! '
by J1zzabell January 13, 2017
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