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party karma 

What you have to build up(through restraint and abstinence) before a big night to truly be 'off the hook". .

Conversely, what you have spent too much of if you wake up from a bender feeling guilty and depressed saying you will never drink/party/indulge again.
Kai: My b-day is gonna be so smack, I haven't been out past 9:00 in over a month!

Jesse: Daaamn son, you been building up some serious party karma.
party karma by yogadude January 22, 2011
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Party Karma 

When all of your alcohol gets stolen at a party, you are allowed one night of snaggin a couple beers from some randos, guilt-free.
Dude, ALL my beer got stolen last night.... its just party karma
Party Karma by inkyouboss March 12, 2011

Karma Party 

The celebration of the failure of your enemies
When the most popular girl or boy makes fun of you then she gets expelled from school or falls down the stairs. You and your friends decide to throw a party celebrating her failur. Call it a Karma Party.