Negotiation Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Negotiation, written in plain English, along with examples of how it is used.

What is Negotiation?

1\) It is a process by which the involved parties or group resolve matters of dispute by holding discussions and coming to an agreement which can be mutually agreed by them. It also refers to coming to closing a business deal or bargaining on some product. 2) It also means exchange of negotiable instruments such as bills of exchange, cheques etc in exchange of goods, service or money.