To be rescued at the last moment before harm comes
To be saved from losing because there is a signal of the event coming to an end
To be spared from a troublesome event because of something that happened extraneous
The accused was saved by the bell otherwise the judge would have pronounced the sentence today itself.
I was saved by the bell otherwise my father was about to uncover what I had done and there is no way that I could have even explained the situation to him.
The police officer believed that the man had stolen but he did not have probable cause to search him and hence the culprit was saved by the bell.
There is no origin for this idiom
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definition
Common phrase that has a specific meaning.