'Quits' definitions:

Definition of 'quits'

From: WordNet
adjective
On equal terms by payment or requital; "we're now quits"; "finally quits with the loan"

Definition of 'Quits'

From: GCIDE
  • Quits \Quits\ (kw[i^]ts), interj. See the Note under Quit, a. [1913 Webster]