That's Fair

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.

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