Source : Webster's Revised Unabridged Dictionary (1913)

   {Half volley}.
      (a) (Tennis) A return of the ball immediately after is has
          touched the ground.
      (b) (Cricket) A sending of the ball so that after touching
          the ground it flies towards the top of the wicket.
          --R. A. Proctor.

   {On the volley}, at random. [Obs.] ``What we spake on the
      volley begins work.'' --Massinger.

   {Volley gun}, a gun with several barrels for firing a number
      of shots simultaneously; a kind of mitrailleuse.

Source : WordNet®

half volley
     n : a tennis return made by hitting the ball immediately after
         it bounces