1
as in withdraws
to break a promise or agreement
my so-called best friend promised to help me move, only to renege come Saturday morning
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2
as in retracts
to solemnly or formally reject or go back on (as something formerly adhered to)
refused to renege the principles by which she had always lived her life, even if it resulted in losing her business
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Merriam-Webster unabridged
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