Some courts bold that this election to treat such renunciation as a breach must be made promptly if at all,1 or at least in a reasonable time.2 On the other hand, the party not in default has been allowed to accept a renunciation as a breach after a delay of four months.3 At any rate, delay for a time agreed upon by the adversary party to decide whether he will accept a new contract is not a modification or waiver of rights under the old.4