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A fancy way to say a prostitute who probably still thinks she's in a soap opera. People use it when they’re too cheap to say the real word.
My uncle called her a Lady of the evening because he didn’t want his kids to know he was paying for a prostitute.
The cop said, 'You’re not a Lady of the evening, you’re a walking mistake.'
He proposed to her at a bar, and she turned him down because she was a Lady of the evening, not a wife.