/kwits/ , adj.
1. on equal terms by repayment or retaliation.
2. call it quits ,
a. to end one's activity, esp. temporarily: At 10 o'clock I decided to call it quits for the day.
b. to abandon an effort.
3. cry quits , to agree to end competition and consider both sides equal: It became too dark to continue play and they decided to cry quits.
[ 1470-80; perh. quittus QUIT 1 ]