Rear jacking is the event of walking up to a taxi cab at a red light which has a passenger in the back, and then opening the rear doors, pulling out the passengers, and stealing their ride.
Zach: "Yeah, so i was riding in a taxi the other day right, when all of the suden some guy walks up to the door and pulled me out and then got in!"
Will: "So....you got...like, car jacked?"
Zach: "Naw dude, I was the victim of a Rear Jacking by some bumba clot".
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