negotiation

Definition from Nolo’s Plain-English Law Dictionary

1) A give-and-take discussion that attempts to reach an agreement or settle a dispute. Negotiation is a form of alternative dispute resolution. 2) The transfer of a check, promissory note, bill of exchange, or other negotiable instrument to another in exchange for money, goods, services, or other benefit. (See also: negotiable instrument)

Definition provided by Nolo’s Plain-English Law Dictionary.