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: That word simply means "sharp" young people come with new things in order to understand each other, when they chat with social networks. They do language feshionable and enjoyable.