👉 In a legal context, "renunciations" are formal or informal declarations by a person that they are no longer willing to participate in an agreement or contract. These can be made voluntarily or involuntarily, and can refer to both verbal and written statements. In the context of business transactions, renunciations may occur when one party (the renunciating party) decides not to continue the contract or agree to certain terms. This could be due to a change in circumstances, such as new