What term best describes an agreement where each side concedes something to reach a resolution?

The term "compromise" accurately describes an agreement where each side concedes something to reach a resolution. In the context of negotiations or conflict resolution, a compromise involves both parties making concessions. This mutual give-and-take allows them to find common ground that serves the interests of both, leading to a satisfactory outcome.

For instance, in the creation of the Constitution, the framers had to compromise on various issues, such as representation in Congress, in order to unify different states with divergent interests and perspectives.

In contrast, a consensus refers to a general agreement that satisfies all parties but doesn't necessarily require concessions. Collaboration involves working together toward a common goal, which may not imply concessions from each side. A contradiction represents a direct opposition or disagreement, which does not apply to the notion of reaching a resolution through mutual concessions.