Examine

One of the right-click options you can use on a friendly player character is to examine that character. This shows you their current character status, the first tab of their character sheet.

Examining a character will tell you:
 * What class they are
 * What level they are
 * What they are wearing and have equipped
 * Enchantments and augments they have

Why?

 * Check a potential opponent out prior to dueling
 * Critique their gear, give them feedback ... solicited or not
 * Offer them upgrades
 * Assess the viability of your group - useful in battlegrounds, required for serious raiding
 * Look for useful gear and ask about the source
 * Allows them to show off - "Check out my gear"
 * Look for signs of wealth so you can QQ and beg for a handout (You know who you are ...)

Trivia
Some MMORPGs that have a similar "examine" feature will notify the player being examined that they are being examined. It is said that on these systems, female players often take offense at their character being examined.