"To be quits" is an idiomatic phrase that typically means to settle or resolve a debt, obligation, or disagreement, resulting in a balanced or equal state. When two individuals or groups are "quits," it signifies that they are at the same level or have mutual obligations that cancel each other out.
This phrase often refers to a situation where both parties have satisfied their respective obligations, removing any further claims or grievances. It implies a sense of fairness and equality in the resolution of a conflict or financial matter.
In a financial context, being "quits" may involve the exchange of funds or assets to offset indebtedness, ensuring that both parties are in a balanced financial position. Similarly, in personal relationships or conflicts, "being quits" suggests that both sides have settled their differences, achieved a state of reconciliation, and are now on equal footing.
The phrase "to be quits" is also synonymous with expressions like "to be even" or "settle the score." It represents a resolution that creates a sense of finality, allowing the parties involved to move forward without any outstanding imbalances or contentions.
Overall, "to be quits" conveys the idea of reaching a fair and equal status, where all parties are satisfied, and any past obligations or conflicts have been settled.
