Source : Webster's Revised Unabridged Dictionary (1913)

Merit \Mer"it\, v. i.
   To acquire desert; to gain value; to receive benefit; to
   profit. [Obs.] --Beau. & Fl.

Merit \Mer"it\, n. [F. m['e]rite, L. meritum, fr. merere,
   mereri, to deserve, merit; prob. originally, to get a share;
   akin to Gr. ? part, ? fate, doom, ? to receive as one's
   portion. Cf. {Market}, {Merchant}, {Mercer}, {Mercy}.]
   1. The quality or state of deserving well or ill; desert.

            Here may men see how sin hath his merit. --Chaucer.

            Be it known, that we, the greatest, are misthought
            For things that others do; and when we fall, We
            answer other's merits in our name.    --Shak.

   2. Esp. in a good sense: The quality or state of deserving
      well; worth; excellence.

            Reputation is . . . oft got without merit, and lost
            without deserving.                    --Shak.

            To him the wit of Greece and Rome was known, And
            every author's merit, but his own.    --Pope.

   3. Reward deserved; any mark or token of excellence or
      approbation; as, his teacher gave him ten merits.

            Those laurel groves, the merits of thy youth.
                                                  --Prior.

Merit \Mer"it\, v. t. [imp. & p. p. {Merited}; p. pr. & vb. n.
   {Meriting}.] [F. m['e]riter, L. meritare, v. intens. fr.
   merere. See {Merit}, n.]
   1. To earn by service or performance; to have a right to
      claim as reward; to deserve; sometimes, to deserve in a
      bad sense; as, to merit punishment. ``This kindness merits
      thanks.'' --Shak.

   2. To reward. [R. & Obs.] --Chapman.

Source : WordNet®

merit
     v : be worthy or deserving; "You deserve a promotion after all
         the hard work you have done" [syn: {deserve}]

merit
     n 1: any admirable quality or attribute; "work of great merit"
          [syn: {virtue}] [ant: {demerit}]
     2: the quality of being deserving (e.g., deserving assistance);
        "there were many children whose deservingness he
        recognized and rewarded" [syn: {deservingness}, {meritoriousness}]