quits

(kwits)

adjective

on even terms, as by discharge of a debt, retaliation in vengeance, etc.

Origin: ME, prob. contr. < ML quittus, var. of quietus: see quietus

See quits in American Heritage Dictionary 4

adjective
On even terms with by payment or requital: I am finally quits with the loan.

Origin:

Origin: Middle English

Origin: , probably alteration (influenced by Medieval Latin quittus, quītus, past participle of quītāre, to free)

Origin: of quit, rid of a debt

Origin: , from Old French quiter; see quit 

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