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parole (n.)

1610s, "word of honor," especially "promise by a prisoner of war not to escape if allowed to go about at liberty, or not to take up arms again if allowed to return home," from French parole "word, speech" (in parole d'honneur "word of honor") from Vulgar Latin *paraula "speech, discourse," from Latin parabola "comparison," from Greek parabole "a comparison, parable," literally "a throwing beside," hence "a juxtaposition" (see parable). Sense of "conditional release of a prisoner before full term" is attested by 1908 in criminal slang.

parole (v.)

1716, from parole (n.). Originally it was what the prisoner did ("pledge"), but this sense is obsolete; its transitive meaning "put on parole, allow to go at liberty on parole" is attested by 1782. Meaning "release (a prisoner) on his own recognizance" is by 1888. Related: Paroled; paroling.

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Definitions of parole from WordNet
1
parole (n.)
(law) a conditional release from imprisonment that entitles the person to serve the remainder of the sentence outside the prison as long as the terms of release are complied with;
parole (n.)
a promise;
Synonyms: word / word of honor
parole (n.)
a secret word or phrase known only to a restricted group;
2
parole (v.)
release a criminal from detention and place him on parole;
The prisoner was paroled after serving 10 years in prison
From wordnet.princeton.edu