parley vs negotiation

parley and negotiation both are nouns.

Word	Noun	Adjective	Verb	Adverb
parley	Yes	No	Yes	No
negotiation	Yes	No	No	No

As nouns, negotiation is a hypernym of parley; that is, negotiation is a word with a broader meaning than parley:

Other hypernyms of parley include dialogue, talks.

parley (noun)	negotiation (noun)
a negotiation between enemies	the activity or business of negotiating an agreement; coming to terms
	a discussion intended to produce an agreement

parley (verb)	negotiation (verb)
discuss, as between enemies