1. noun /ˈpɑː.ti,ˈpɑːɹ.ti,ˈpʰɑːɹ.ɾi/
a) A person or group of people constituting a particular side in a contract or legal action.
The contract requires that the party of the first part pay the fee.
I cant possibly be a party to that kind of reckless behaviour.
2. verb /ˈpɑː.ti,ˈpɑːɹ.ti,ˈpʰɑːɹ.ɾi/
We partied until the early hours.
b) To take recreational drugs.
“Miss, do you party?” the boy asked. “What?” Jennifer asked back. “Do you smoke? Ill get you some cheap. One American dollar equals forty Jamaican dollars. Ill get you as much of the stuff as you need.”
Wikipedia foundation.