ETYMOLOGY
from Old French faillance, from faillir (to almost do something, to fail)
EXAMPLE
“…but when you come to Exercise the whole company ioyned, you may at some times for your owne satissaction in the more ready & gracefull performance of them, command the Postures to bee done by the whole number at once, with such pawse betweene euery Posture, as may afford you meanes to discerne any faylance therein: but whensoeuer you skirmish you shall vse no more of direction then,
1. Make Ready.2. Present.3. Giue Fyre…”
From: The Compleat Gentleman, fashioning him absolute in the most necessary & commendable qualities concerning minde or bodie that may be required in a noble gentleman
By Henry Peacham, 1627
Lexicophilia 