a jacket that people wear to fraternities or other large party scenes. Usually ugly, cheap, and not very warm. Worn to replace nicer, quality outerwear so that those items of value do not get stolen, lost, or damaged. From "frat" + "jacket".
Sorority Girl 1: "Ugh! This fracket doesn't go with my outfit!
Sorority Girl 2: It's better than having your North Face stolen. Anyways, no one will see it cause you're gonna throw it in a random room as soon as we get to the frat.
Definitions include: (adj) 1. Good-looking (origin comes from "Swerve" brand watches) 2. Cool or Hip 3. Fashionable (as in "I bought this new skirt today and it is so Swerve") Term is in use mostly in the upper Mid-west; Wisconsin, Minnesota, Illinois.