What happens when an automatic transmission on a car fails?

The transmission is going bad in my car. The warning light is lit and it’s been shifting a bit funny for a while. I am about to get rid of this car, but I need to drive it for a few days first. If the transmission dies while I’m on the road, is it dangerous? What happens?
Thanks guys! I’m also wondering … if it stops on a hill will it start to roll? This piece of junk has no emergency brake.



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