There has been a lot of controversy among scholars surrounding the relationship between discourse and conversation. Some scholars see them as the same thing, while others maintain that the two are different concepts. In the following review, an attempt was made to look at the two terms definitionally and operationally with the object of highlighting where they relate and where they differ. It would be observed that conversation displays some unique characteristics which on the one hand make it stand distinct from other forms of discourse and on the other hand qualify it to be unique.