[jquery] How to break out of jQuery each Loop

I came across the situation where I met a condition that broke the loop, however the code after the .each() function still executed. I then set a flag to "true" with an immediate check for the flag after the .each() function to ensure the code that followed was not executed.

$('.groupName').each(function() {
    if($(this).text() == groupname){
        alert('This group already exists');
        breakOut = true;
        return false;
    }
});
if(breakOut) {
    breakOut = false;
    return false;
}