parley vs palaver

parley and palaver both are nouns.

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

As verbs, palaver is a hyponym of parley; that is, palaver is a word with a more specific, narrower meaning than parley:

parley: discuss, as between enemies
palaver: have a lengthy discussion, usually between people of different backgrounds

parley (noun)	palaver (noun)
a negotiation between enemies	loud and confused and empty talk
	flattery intended to persuade

parley (verb)	palaver (verb)
discuss, as between enemies	have a lengthy discussion, usually between people of different backgrounds
	influence or urge by gentle urging, caressing, or flattering
	speak (about unimportant matters) rapidly and incessantly