Meaning of quits

quits

1. on equal terms by repayment or retaliation.
2. At 10 o'clock I decided to call it quits for the day.
1. to end one's activity, esp. temporarily:At 10 o'clock I decided to call it quits for the day.
2. to abandon an effort.
3. to agree to end competition and consider both sides equal: It became too dark to continue play and they decided to cry quits.