De Aestimato Law and Legal Definition

De aestimato is a Latin term meaning, “estimation of something in money”. It is an action available to an owner of goods against a person who received the goods but failed, after a certain period, to either pay the owner an agreed price after finding a purchaser or return the goods to the owner. De Aestimato is a transaction which is in the form of innominate contract. It is often used by traveling merchants or second-hand dealers who, after purchasing items, could then resell them at higher prices or return them to the owner. De aestimato is also known as action aestimatoria.