Top Definition
Slang expression for being without funds, penniless.

The opposite of the above maneuver. In a down and out, the receiver runs downfield then turns out, toward the sideline.
Led Zeppelin slang use: "been to long before I found out what people mean by 'down and out'

"The man who risks it all will eventually be down and out."
po JoshuaN@sh Август 31, 2006
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