What term describes the payment of a reasonable sum someone deserves for services rendered?

The term "Quantum Meruit" directly relates to the principle of paying a reasonable sum for services rendered. This legal doctrine allows a party to recover compensation for the value of services provided, even in the absence of a formal contract. It operates under the premise that when one party has provided benefits to another, fairness demands that the first party be compensated appropriately for those benefits.

In contexts such as construction and design-build projects, Quantum Meruit can be invoked when there is no prior agreement on payment terms, but where services have nonetheless been performed which the other party accepted. This ensures that service providers are justly compensated for their work, aligning with common principles of fairness and equity in business dealings.

The other options involved have different meanings: Promissory Estoppel is related to enforcing a promise when one party relies on it to their detriment, Equitable Compensation refers to compensation awarded in court based on fairness principles rather than strict contractual obligations, and Just Compensation typically refers to compensation for property takings under eminent domain, which does not directly address the context of services rendered.