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Conditional discharge: A conditional discharge is not a conviction under New Mexico law. It gives you a chance never to be found guilty and have your case dismissed on the condition that you complete probation.
A plea deal is when the prosecution allows you to plead guilty in exchange for a lighter sentence. Additionally, a plea bargain arises when the prosecution gives you a chance to admit guilt to some of the charges if you face multiple counts.
(a valid guilty plea requires an accused to admit his guilt and articulate those facts that objectively establish his guilt; an accused must be convinced of, and able to describe all the facts necessary to establish guilt; if an accused is personally convinced of his guilt based upon an assessment of the government's ...
It must be expressly clear that the defendant understands the ramifications of the plea. They must understand that they are waiving their 5th and 6th constitutional rights (the right to not incriminate themselves, the right to a trial and the right to confront their accusers).
The two sides usually compromise on a lesser charge or reduced penalty in exchange for a guilty plea or no contest plea. Before the agreement can be finalized, however, a judge needs to review and approve it.
But each can have different implications if you plead to a criminal charge. Pleading guilty means you admit that you committed the crime. Pleading no contest (?nolo contendere?) means that you accept the conviction but avoid a factual admission of guilt.