In the event of any default by the buyer in the performance of obligations under a contract or installment account, the holder, pursuant to any rights granted therein, may proceed to recover judgment for the balance due without retaking the goods, or the holder may retake the goods and proceed as provided for in Article 9 of Subtitle I of this title.

6 Del. C. 1953, §  4346;  52 Del. Laws, c. 342;  56 Del. Laws, c. 221;  70 Del. Laws, c. 186, §  1;