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When BOTH of the following two conditions are satisfied:

(a) A person fails to attend a planned event (ex. "he totally bailed on the party")

(b) When the event that was "bailed" was super awesome, or at the very least, better than what it was the person "bailed" for. (ex. "bailing on the beach full of hot babes is both a fail and a bail, therefore a bailure?")
Alex tells his friends that he will go to the beach with them. On the beach day, Alex tells his friends he can't go to the beach because he has to take care of his friend's dog. This is the "bail."

If it turns out that the beach was full of hot babes, high-fives, and free pie, the alternative for which Alex passed up the beach is clearly a "fail."

Combined, we have BAILURE (BAIL+FAILURE).
Bailure by DotBiz July 4, 2010
Related Words

Anal bailer

A person who is about to perform anal sex with a willing anal candidate but bails out at the last moment.
e.g
Donald: "Take me now, whilst you're firm!"
Leeroy: "oww, do i have i have to"
Donald: "What the fuck, you ANaL BAiLeR!"
Anal bailer by scorgeofmapps July 15, 2007
an adjective used to describe someone who bitches and whines a lot, and cannot take a joke or insult. Its usage is mostly confined to the southeast of Ireland.
Jack: Hey, I had your mother last night.
Jonathan: Don't make fun of me, I hate when you do that
Jack: Stop being a bailer.
Bailer by FarroIshida May 9, 2010

bailorexia 

When you make plans with someone and they constantly bail on you. You could've just talked to them an hour ago, but they will still bail. Any contact you try and make with the person will be ignored. Can be quite frustrating and annoying, leading to a decline in friendship with the person.
I stayed in last night and pounded a sixer of nattie light by myself, I had plans with Liz but she had a sudden breakout of bailorexia.
bailorexia by Brittany Shipnasty August 28, 2010
if something seems like a lame failure, which enacts you to bail, or leave it. Could be a relationship, party, meeting. The act of calling a bailure is making a motion to leave or bust since the place you're at is bunk.
I'm going to call a bailure on this party, it's pretty much a failure so I'm bailing.

or

I'm going to make a bailure.
bailure by allihonki August 5, 2012

bailarin 

hey john you what to go bailarin
bailarin by hannabannana September 21, 2016