Definitions for call it quits
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Princeton's WordNet
call it quits, call it a day(verb)
stop doing what one is doing
"At midnight, the student decided to call it quits and closed his books"
Wiktionary
call it quits(Verb)
To conclude; to quit or stop an activity, especially after applying oneself to it for a significant period of time.
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"call it quits." Definitions.net. STANDS4 LLC, 2013. Web. 18 Jun 2013. <http://www.definitions.net/definition/call it quits>.

