The act of removing yourself from an awkward or undesirable social situation just like one would deploy a parachute to stop a freefall.
I needed my wingman to hop on the grenade. He did but after 10 minutes could no longer stand it so he pulled chute and got out of there.
by Patcho November 2, 2007
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To backout, drop out of or give up on something.

Derived from the use of parachutes in sky diving. The diver "pulls the chute" on the dive at a certain point where he/she deems safe.
"Bob 'pulled the chute' on class again." This translates to the following:

Bob skipped class again.

In conversation:
Mike: "Where's Bob?"
Tony: "He pulled the chute again."

Short forms:

Pulled, chute, or simply: P.T.C.
by BJLOVE{bob} March 11, 2004
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Leaving an event or night out at a club early because it is lame/boring and not always telling the people you came with
If I'm still hungover Saturday, I'll be pulling the chute early and bookin it for home.
by Gordi November 5, 2007
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To suddenly cancel plans at the last moment or to stop one's self from attempting a drastic action.
"I was totally going to hit up that chick but I got scared and had to pull the chute."

"I was supposed to have dinner with my parents but I pulled the chute and went to a strip club."
by Sillyist August 21, 2009
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