quits /kwɪts/ BrE AmE adjective informal
[ Date: 1600-1700 ; Origin: Probably from quit 'free of' ; ⇨ ↑ quite ]
1 . be quits British English if two people are quits, neither one owes anything to the other SYN straight :
I’ll give you £10, and then we’re quits.
2 . call it quits
a) to agree that a debt or argument is settled:
Just give me $20 and we’ll call it quits.
b) to stop doing something:
After 25 years as a teacher, he’s decided to call it quits.