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2.
Something that is close to (time varies based on one's opinion) or ready to break/die.
Man I love my dog!

Had him since I was 6.....
Poor Bach.....
Taking medicines, just laying there......
He is on his Last Leg now.....
by Whodi Brown March 30, 2012
 
1.
Close to the end, wearing out or on the verge of breaking.
This machine is on its last legs, I'll give it another 2 weeks before it stops working altogether.
by jimboble September 24, 2009