GNU Collaborative International Dictionary of English

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Found one definition

1.       
   Folly (?), n.; pl. Follies (#). [OE. folie, foli, F. folie, fr. fol, fou, foolish, mad. See Fool.]
   1. The state of being foolish; want of good sense; levity, weakness, or derangement of mind.
   
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   2. A foolish act; an inconsiderate or thoughtless procedure; weak or light-minded conduct; foolery.
   
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             What folly 'tis to hazard life for ill. Shak.
   
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   3. Scandalous crime; sin; specifically, as applied to a woman, wantonness.
   
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   [Achan] wrought folly in Israel. Josh. vii. 15.
   
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   When lovely woman stoops to folly. Goldsmith.
   
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   4. The result of a foolish action or enterprise.
   
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    It is called this man's or that man's “folly,” and name of the foolish builder is thus kept alive for long after years. Trench.
   
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