Spoiler Alert! We have hidden this information so that you have the choice to try it on your own, or have the advantage of knowing how the sausage is made...
If you run, or die, or otherwise fail to kill the Hunger Spirit the Rancid Meat was still used and you will need to get another one.
If you move or adjust your "camera" at all while casting "Rancid Meat" it will abort. This will not lose your Rancid Meat but you will will have to start casting again.
Daily Quests are repeatable up to a total (for all Daily Quests) of 10 times per day. The count can be reset to zero by purchasing and using a Daily Quest Ticket from the Item Shop (for 39 ($1.16)† ) or from any Phirius Merchant (for 780 ).
In all other zones they do not reward XP, TP or Gold, only Public Event Points. In all other aspects they are the same as a Daily Quest (except for the infinitely repeatable part and the rewards). Public Event Points contribute towards the completion of Regional Quest objectives, which in turn rewards a number of Energy of Justice commensurate with your amount of participation in the Regional event.
Rancid Meat ×10. Give a 
Daily Quest Ticket from the Item Shop (for 39
($1.16)† ) or from any Phirius Merchant (for 780
).
Dual-Function Daily Quest Potion.
Old Bag (hence the common sobriquet, Bag Quests). In Redhill Mountains, each repetition of [67][Public] Freedom Fighters rewards an 
Ancient Memento.
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