To acknowledge, often reluctantly, as being true, just, or proper; admit. See Synonyms at acknowledge.
To yield or grant (a privilege or right, for example).
To make a concession: yield: The losing candidate conceded at midnight after the polls had closed.
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.