American Dictionary of the English Language

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FA'ILING, participle present tense Becoming deficient or insufficient; becoming weaker; decaying; declining; omitting; not executing or performing; miscarrying; neglecting; wanting; becoming bankrupt or insolvent.

FA'ILING, noun

1. The act of failing; deficiency; imperfection; lapse; fault. Failings, in a moral sense, are minor faults, proceeding rather from weakness of intellect or from carelessness, than from bad motives. But the word is often abusively applied to vices of a grosser kind.

2. The act of failing or becoming insolvent.