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An acknowledgement that an argument or opinion presented to you is reasonable in your estimation, but you have more to add to your own argument or opinion.

Equivalent in usage to "fair enough."
Bob: I prefer Vanilla ice cream.
Mike: I think Chocolate is better than Vanilla. It has a richer taste.
Bob: That's fair. I prefer Vanilla to Chocolate because it reminds me of where I grew up as a kid.
by jackirons March 13, 2019
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2
1.The phrase used at the end of an argument between one or more people who know that they are talking about and one person that doesn't but still tries to convince everyone he is right. the argument, usually involving politics or religion, ends with the person or people who know what the are talking about saying "that's fair" to subtly call the other person involved a dumb ass.

2. a phrase used a lot by attorneys and others in the Law profession while discussing various aspects of a case. Mostly used to respectfully call a fellow stupid, or a dumb ass
Al: well you guys are wrong moses took all those animals on the ark because he liked them he left all the ones he hated.

Bob: That's fair, but Noah had the ark not moses.
by DoctaMayne January 27, 2011
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