expression, noun which may take the genitive case particle 'no'
even; square; owing nothing to each other
Set phrase meaning that mutual debts or obligations are settled, so neither side owes the other anything. Often used in the pattern 貸し借りなしにする or 貸し借りなしで.
Let's call it even with this.
The best relationship with friends is one where you don't owe each other anything.
Standard kanji spelling for the set phrase.
Variant spelling using 無し for なし; slightly less common but still seen.
Compound of 貸し (lending), 借り (borrowing), and なし (without). The phrase literally means 'without lending or borrowing', i.e., no outstanding debts between parties.