Definition of wag:

part of speech: noun

A joker; one who plays tricks; a man full of sport and humour.

part of speech: verb

To shake lightly; to move to and fro; to move with quick turns from side to side.

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The quality of being in form only; in logic, a term applied to designate propositions in which the copula is accompanied by some phrase which adds to or restricts its meaning. ...