n.
  - an object or collection of objects wrapped in paper in order to be carried or sent by post.
- a quantity or amount of something, in particular land.
v.
 (parcels, parcelling, parcelled; US parcels, parceling, parceled)
   - make (something) into a parcel by wrapping it.
- 
(parcel something out)
 divide something into portions and then distribute it.
- Nautical  wrap (rope) with strips of tarred canvas to reduce chafing.
Etymology
  ME: from OFr. parcelle, from L. particula ‘small part’.