Final answer:
Quantum meruit is a legal concept used to compensate a party for services provided when a contract is absent or unenforceable, rather than reflecting the quality of an offer. It translates to 'as much as he has deserved', and thus, the statement in question is false.
Step-by-step explanation:
Quantum meruit is a legal principle, not a contract substitute that reflects the quality of an offer. Instead, it's a doctrine used in contract law that allows a party to recover a reasonable value for services or goods provided, in the absence of a pre-existing contract, or when a contract exists but is unenforceable. The term quantum meruit translates to 'as much as he has deserved' or 'what one has earned'. Under this doctrine, courts can compensate a party that has provided a service or good with the expectation of being paid, even if no formal contract existed. Therefore, the statement 'Quantum meruit is a contract substitute that means the quality of the offer has merit' is false.