Top Definition
1.
a. To rescue from harm, danger, or loss.

b. To set free from the consequences of sin; redeem.

2. To keep in a safe condition; safeguard.
The term was derived from a true story surrounding an assassination attempt on a member of a Scottish family based in the Glasgow area with Celtic connections.

The hitman missed his intended target when he failed to take account of the subjects poor fitness when running.

The resultant shot landed in the calf area and not the ass where he had been paid to land his shot.

The hitman was never paid, the subject lived on to continue his simple existence and a new slang phrase was born.... You "saved-my-ass".
by TheCopaKing October 25, 2013
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