In law, 'Nolo contendere' (Latin for I do not contest it) means that the defendant does not admit the charge, but does not dispute it either. He agrees that the court may find him guilty criminally without ever admitting to the act.
One of the advantages of a nolo contendere, or "nolo" plea is that for the purposes of possible later civil action, the defendant has not admitted to a tort. Another advantage can be in saving on legal costs. This is a consideration when those costs exceed any possible penalties that may be levied on a guilty party.
Also see: No contest (boxing)