The most common and most likely answer to this crossword clue is the 4 letter word EVEN
I've seen this crossword clue in The Times
E
V
E
N
More clues leading to the result EVEN
- Flat race is short
- Quits contest without finishing
- Regular competition — waste of time
- Still a number going topless
- English cleric’s flat
- Still happening, not finishing
- Quits flat
- Flat Robert Louis misses out on, having no advantage
- When darkness starts to fall, organised activity cut short
- Venerable Bede’s lowest is above fair
Buddy explains!

The straight part
We know that "Quits" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case quits = even.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does EVEN mean?
EVEN noun- (diminutive) An even number.
- To make flat and level.
- To equal.
- To be equal.
- To place in an equal state, as to obligation, or in a state in which nothing is due on either side; to balance, as accounts; to make quits.
- To set right; to complete.
- To act up to; to keep pace with.
- Flat and level.
- Without great variation.
- Equal in proportion, quantity, size, etc.
- (of an integer) Divisible by two.
- (of a number) Convenient for rounding other numbers to; for example, ending in a zero.
- On equal monetary terms; neither owing nor being owed.
- On equal terms of a moral sort; quits.
- Parallel; on a level; reaching the same limit.
- Without an irregularity, flaw, or blemish; pure.
- Associate; fellow; of the same condition.
- Exactly, just, fully.
- In reality; implying an extreme example in the case mentioned, as compared to the implied reality.
- Emphasizing a comparative.
- Signalling a correction of one's previous utterance; rather, that is.
- Evening.