[1] : The Collaborative International Dictionary of English v.0.48

parley \par"ley\, n.; pl. parleys. f. parler speech, talk,
   fr. parler to speak, ll. parabolare, fr. l. parabola a
   comparison, parable, in ll., a word. see parable, and cf.
   parliament, parlor.
   mutual discourse or conversation; discussion; hence, an oral
   conference with an enemy, as with regard to a truce.
   1913 webster

         we yield on parley, but are stormed in vain. --dryden.
   1913 webster

   to beat a parley mil., to beat a drum, or sound a
      trumpet, as a signal for holding a conference with the
      enemy.
      1913 webster
see also:
parleys parable parliament parlor to beat a parley 

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