Source : Webster's Revised Unabridged Dictionary (1913)

Failure \Fail"ure\, n. [From {Fail}.]
   1. Cessation of supply, or total defect; a failing;
      deficiency; as, failure of rain; failure of crops.

   2. Omission; nonperformance; as, the failure to keep a
      promise.

   3. Want of success; the state of having failed.

   4. Decay, or defect from decay; deterioration; as, the
      failure of memory or of sight.

   5. A becoming insolvent; bankruptcy; suspension of payment;
      as, failure in business.

   6. A failing; a slight fault. [Obs.] --Johnson.

Source : WordNet®

failure
     n 1: an act that fails; "his failure to pass the test"
     2: an event that does not accomplish its intended purpose; "the
        surprise party was a complete failure" [ant: {success}]
     3: lack of success; "he felt that his entire life had been a
        failure"; "that year there was a crop failure" [ant: {success}]
     4: a person with a record of failing; someone who loses
        consistently [syn: {loser}, {nonstarter}, {unsuccessful
        person}] [ant: {achiever}]
     5: an unexpected omission; "he resented my failure to return
        his call"; "the mechanic's failure to check the brakes"
     6: inability to discharge all your debts as they come due; "the
        company had to declare bankruptcy"; "fraudulent loans led
        to the failure of many banks" [syn: {bankruptcy}]
     7: loss of ability to function normally; "kidney failure"

Source : Free On-Line Dictionary of Computing

failure
     
        The inability of a system or system component to perform a
        required function within specified limits.  A failure may be
        produced when a {fault} is encountered.
     
        (1996-05-13)