1. When you try to bail someone out, and fail.

2. A level of failure more severe than an epic fail.

use 1. After David got picked up for public drunkenness, I tried to get him out of jail, but didn't have enough money, that was a real failout.

use 2. Henry Paulson - failout.
by p_e_ December 03, 2008

5 Words Related to Failout

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