From The Collaborative International Dictionary of English v.0.48:
bust \bust\ (b[u^]st), n. [F. buste, fr. It. busto; cf. LL.
busta, bustula, box, of the same origin as E. box a case;
cf., for the change of meaning, E. chest. See Bushel.]
1. A piece of sculpture representing the upper part of the
human figure, including the head, shoulders, and breast.
[1913 Webster]
Ambition sighed: she found it vain to trust
The faithless column, and the crumbling bust.
--Pope.
[1913 Webster]
2. The portion of the human figure included between the head
and waist, whether in statuary or in the person; the chest
or thorax; the upper part of the trunk of the body.
[1913 Webster]
3. Especially: A woman's bosom[2].
[PJC]
From The Collaborative International Dictionary of English v.0.48:
bust \bust\ (b[u^]st), v. t.
To arrest, for committing a crime; -- often used in the
passive; as, the whole gang got busted. [informal]
[PJC]
From The Collaborative International Dictionary of English v.0.48:
bust \bust\ (b[u^]st), v. i.
1. To break or burst. [informal]
[PJC]
2. (Card Playing) In blackjack, to draw a card that causes
one's total to exceed twenty-one.
[PJC]
3. To go bankrupt.
[PJC]
to go bust to go bankrupt.
or bust or collapse from the effort; -- used in phrases
expressing determination to do something; as, Oregon or
bust, meaning "We will get to Oregon or die trying."
[PJC]