Resile is a verb that means to abandon a position or course of action.

The Latin word salire (sa LEER ay) means ’to jump.’ When combined with the prefix R-E, we get a word that means ‘to jump back’ or to abandon a previous plan.

James knew that his idea for launching the company had failed, but the problem was that he couldn’t resile from the idea. I’m sure if there had been any way to abandon it he would have.