When you sell an item to an individual and decide to not sell that item to that individual because a better offer came along, therefore renigging on the previous offer. To go back on a promise, undertaking, or contract.
I was not planing on renigging, but later that same day when I was offered an extra $100 plus a bag of weed, I'd be an idiot not to take the betterdeal?
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. Penguin Books,1992. p. 38)