Quantum Meruit

Definition

  • Used in contract law it means "reasonable value of services." Quantum Meruit determines the amount to be paid for services when a contract does not exist or when a contract is not completed.

Synonyms
reasonable share, earned amount, payment for service

Related Terms and Acronyms

  • Construction Budget Definition,
    • Money that the builder sets aside for building a structure.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Holdback Definition,
    • A dollar amount that is withheld by the lender during construction of a home to ensure construction is satisfactory at every stage. The amount of hold-back is typically equivalent to the estimated cost to complete the construction.
  • Judgement Definition,
    • A determination by a court of law or a judicial decision.
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