Yes, party is in the scrabble dictionary

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Party Definition

noun

A group of people who have gathered to participate in an activity. See Synonyms at band2.
from The American Heritage Dictionary of the English Language, 4th Edition
A person or group involved in an enterprise; a participant or an accessory: I refuse to be a party to your silly scheme.
from The American Heritage Dictionary of the English Language, 4th Edition
A person using a telephone.
from The American Heritage Dictionary of the English Language, 4th Edition
A selected group of soldiers: a raiding party.
from The American Heritage Dictionary of the English Language, 4th Edition
A social gathering especially for pleasure or amusement: a cocktail party.
from The American Heritage Dictionary of the English Language, 4th Edition

verb

To attend or give.
from Free Scrabble Dictionary

adjective

Characteristic of a pleasurable social gathering: a party atmosphere.
from The American Heritage Dictionary of the English Language, 4th Edition
Of, relating to, or participating in an established political organization: party members; party politics.
from The American Heritage Dictionary of the English Language, 4th Edition
Suitable for use at a social gathering: party dresses; a party hat.
from The American Heritage Dictionary of the English Language, 4th Edition

verb-intransitive

To celebrate or carouse at or as if at a party: That night we partied until dawn.
from The American Heritage Dictionary of the English Language, 4th Edition

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Top Words by points

Points

party

10

2 letter words with PARTY

Points

at

2

ay

5

ar

2

ya

5

pa

4

ta

2

3 letter words with PARTY

Points

yar

6

yap

8

try

6

tar

3

tap

5

rya

6

ray

6

rat

3

rap

5

pay

8

apt

5

art

3

par

5

pat

5

pry

8

pya

8

4 letter words with PARTY

Points

rapt

6

pray

9

part

6

paty

9

tarp

6

trap

6

tray

7

arty

7

prat

6

5 letter words with PARTY

Points

party

10

Found 32 words in 0.16693 seconds