What is "parleying"

Parley \Par"ley\, v. i. [imp. & p. p. Parleyed; p. pr. & vb. n. Parleying.] To speak with another; to confer on some point of mutual concern; to discuss orally; hence, specifically, to confer orally with an enemy; to treat with him by words, as on an exchange of prisoners, an armistice, or terms of peace.

They are at hand, To parley or to fight; therefore prepare.
--Shak.

n. The act of one who parleys. vb. (present participle of parley English)