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When you have to bail out of a planned event. Your failure to attend said event after saying you would be there.
Jammer's bailure to attend the party was a big disappointment.
Bailure by BillyBadAss July 29, 2008
the failure to take action in order to keep a romantic relationship from going in an unwanted direction potentially resulting in a series of catastrophically awkward events and conversations.
Bob: "So Evan did you bail on that girl you were seeing?"
Evan: "No, we made out for a while and she left."
Bob: "What a bailure!"
Bailure by TinyJohnson May 17, 2012

Baitress 

hot underaged waitress working bar-rush at Denny's
Wow.. did you see that Baitress - she sure doesn't look 16
Baitress by Jay Jordan May 15, 2006

Cascading Bailure 

When making plans with a group, if one person bails, so will multiple others.
We were going to go to brunch until Dan had to go into the city instead. After that John started "feeling sick" and Isabel "had to work", and the whole thing fell apart. It was a serious case of cascading bailure.
Cascading Bailure by dip April 24, 2016
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
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