The Collaborative International Dictionary of English v.0.48:

Counselable \Coun"sel*a*ble\ (-[.a]*b'l), a. [Written also
   counsellable.]
   1. Willing to receive counsel or follow advice. [R.]
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            Few men of so great parts were upon all occasions
            more counselable than he.             --Clarendon.
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   2. Suitable to be advised; advisable, wise. [Obs.]
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            He did not believe it counselable.    --Clarendon.
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