A way of conceding a point, or admitting while you may not agree with someone's opinion, they are entitled to have it.
1. BroA: Dude, why didn't you take that job? The benefits were killer!
BroB: Maybe, but it was so far out, I'd have spent more on gas than what they were willing to pay me.
BroA: Fair enough.
2. American: Personally, I don't like the British, because the British don't like us.
Brit: Fair enough.
A term phrased by Honey Boo Boo (Alana), comprising the word “recognize” (to respect; give honor by public acknowledgement) and the word “redneck” (hardworking man or woman, who has made a living either farming, doing landscape work, or other jobs that require the person to be outside throughout the extremes in weather. This is the normal cause for the tell tale "red neck".)
“This is Honey Boo Boo child and you better redneckinize!”