Colloquy, n.; pl. Colloquies.
Etymology: [L. colloquium. See Collocution.]
1. Mutual discourse of two or more persons; conference; conversation. They went to Worms, to the colloquy there about religion. A. Wood.
2. In some American colleges, a part in exhibitions, assigned for a certain scholarship rank; a designation of rank in collegiate scholarship.
Shades of meaning
Fernald has no entry of its own for colloquy; he lists it under conversation.
Where he writes about it:
A colloquy is indefinite as to number, and generally somewhat informal. — from conversation