Empty water out of a boat, usually by dipping with a bucket or other container. For example, We had to keep bailing out water from this leaky canoe. [Early 1600s]
Rescue someone in an emergency, especially a financial crisis of some kind, as in They were counting on an inheritance to bail them out. [Colloquial; 1900s]
Jump out of an airplane, using a parachute. For example, When the second engine sputtered, the pilot decided to bail out. [c. 1930]
Give up on something, abandon a responsibility, as in The company was not doing well, so John decided to bail out while he could still find another job. [Second half of 1900s]
See make bail.
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