Akademik

quits

predic.adj. on even terms by retaliation or repayment (then we'll be quits).
Phrases and idioms:
call it (or cry) quits acknowledge that things are now even; agree not to proceed further in a quarrel etc.
Etymology: perh. colloq. abbr. of med.L quittus: see QUIT

Useful english dictionary. 2012.