quits Meaning in the Cambridge English Dictionary
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Meaning of “quits” in the English Dictionary

"quits" in British English

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uk   us   /kwɪts/ UK informal
be quits to not ​owemoney to someone or to each other now: I ​paid for the ​tickets and you ​boughtdinner so we're quits, I ​reckon. Am I quits with you now?
(Definition of quits from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)
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