The Collaborative International Dictionary of English v.0.48:

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.
   [1913 Webster]

         They are at hand,
         To parley or to fight; therefore prepare. --Shak.
   [1913 Webster]