Here is what I have come up with after a long discussion last week with a couple of my friends after a few pints down at the Dreadnaught.

1) "GUTS" is arriving home late after a night out with The guys, being assaulted by your wife with a broom, And having the guts to say, "are you still cleaning or are you flying somewhere?"

2) "BALLS" is coming home late after a night out with the guys smelling of perfume and beer, lipstick on your collar, slapping your wife on the ass and having the balls to say, "You're next!"

*Edit:
3) "Gutsy Balls" is coming home after a 72 hour run on gambling, coke, and viagra with your wife's younger sister in Vegas while using your families credit cards and having the gutsy balls to say, "What happens in Vegas, stays in Vegas honey."

/discuss

can one have both guts and balls or are they exclusive terms idetifiable only by condition, circumstance, or situation?

He edited the post. Apparently they are not mutually exclusive.

From my experience you can have both, but after my divorce I was left with only one.

"Balless Guts" or "Gutless Balls"?