Meaning

• 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."

• A person.

• A group of people forming one side in a given dispute, contest etc.

• A political group considered as a formal whole, united under one specific political platform of issues and campaigning to take part in government.

  "The green party took 12% of the vote."

• A discrete detachment of troops, especially for a particular purpose.

  "The settlers were attacked early next morning by a scouting party."

• A group of persons collected or gathered together for some particular purpose.

• A part or division.

Meaning

• To celebrate at a party, to have fun, to enjoy oneself.

  "We partied until the early hours."

• To take recreational drugs.

• To engage in flings, to have one-night stands, to sow one's wild oats.

• To form a party (with).

  "If you want to beat that monster, you should party with a healer."