In quantum meruit financial definition of In quantum meruit
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(pronounced like “merit”) Means “as much as he deserves.” It is the principle that if someone has benefited from the work and goods of another, but without a formal contract,then the one supplying the labor or materials is entitled to a reasonable compensation as long as they did not lead the other to believe it would be free.The theory arises often in construction projects, which seem to have a high percentage of people working on a handshake and an implied understanding of the normal fees in the area.
References in periodicals archive
His second amended complaint contained three counts: Count I, in which he sought to foreclose a mechanic's lien; Count II, in which he alleged breach of contract; and Count III, in which he sought recovery in quantum meruit
for the reasonable value of his company's work.
The law requires that the broker recover for its services in quantum meruit
in order to avoid unjust enrichment of the tenants at the broker's expense.
Therefore, recovery in quantum meruit
is said to be based upon the "assent" of the parties and, being contractual in nature, it sounds in law.