"quits" in the verb sense
1. discontinue, stop, cease, give up, quit, lay off
put an end to a state or an activity
"Quit teasing your little brother"
2. leave office, quit, step down, resign
give up or retire from a position
"The Secretary of the Navy will leave office next month"
"The chairman resigned over the financial scandal"
3. depart, take leave, quit
go away or leave
4. foreswear, renounce, quit, relinquish
turn away from give up
"I am foreswearing women forever"
5. drop out, give up, fall by the wayside, drop by the wayside, throw in, throw in the towel, quit, chuck up the sponge
give up in the face of defeat of lacking hope admit defeat
"In the second round, the challenger gave up"
"quits" in the adjective sense
on equal terms by payment or requital
"we're now quits"
"finally quits with the loan"
Source: WordNet® (An amazing lexical database of English)
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