give-and-take

1. The practice of compromise.
2. Lively exchange of ideas or conversation: “the raucous give and take of American democracy” (Charles Kuralt).

noun

A settlement of differences through mutual concession: accommodation, arrangement, compromise, medium, settlement. Law composition. See agree/disagree.

1.  The practice of compromise, as in Every contract involves some give and take. This expression was first recorded in 1778, although the verbal idiom, to give and take, was used from the early 1500s.
2.  Lively exchange of ideas or conversation, as in The legislature is famous for raucous give and take. [Second half of 1800s]

The noun has 3 meanings:

Meaning #1: an exchange of views on some topic
  Synonyms: discussion, word

Meaning #2: light teasing repartee
  Synonyms: banter, raillery, backchat

Meaning #3: mutual interaction; the activity of interchanging or reciprocating
  Synonyms: interchange, reciprocation

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)