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1.
a negotiation where the person who wants something has no chance of getting anything from the person who might give them something (or in this case nothing)

pronounced no-go-tiation
1:I was talking to Andre and I wanted his Bob Marley CD and then he wouldn't give it to me after I offered him my entire CD collection.

2:What a nogotiation
by b to the rizzle April 23, 2007
 
2.
Refusal to accept negotiation terms, and therefore reaching an agreement is a "no go".
Amanda: "Can I borrow your cute heels to go clubbing tonight?"

Kelly: "Nope."

Amanda: "C'mon!"

Kelly: "No way! Your foot funk is contagious... I can't be having your gnarly corn-infested toes all up in my shoes."

Amanda: "Well, I guess this NoGotiation's over"...
by havwingswillfly March 29, 2010