[1] : The Collaborative International Dictionary of English v.0.48

demerit \demer"it\, n. f. d'em'erite demerit in sense 2,
   of. demerite demerit in sense 1, fr. l. demerere to deserve
   well, ll., to deserve well or ill; de- + merere to deserve.
   see de-, and merit.
   1. that which one merits or deserves, either of good or ill;
      desert. obs.
      1913 webster

            by many benefits and demerits whereby they obliged
            their adherents, they acquired this reputation.
                                                  --holland.
      1913 webster

   2. that which deserves blame; ill desert; a fault; a vice;
      misconduct; -- the opposite of merit.
      1913 webster

            they see no merit or demerit in any man or any
            action.                               --burke.
      1913 webster

            secure, unless forfeited by any demerit or offense.
                                                  --sir w.
                                                  temple.
      1913 webster

   3. the state of one who deserves ill.
      1913 webster
see also:
de merit merit 

[2] : The Collaborative International Dictionary of English v.0.48

demerit \demer"it\, v. t. cf. f. d'em'eriter to deserve
   ill. see demerit, n.
   1. to deserve; -- said in reference to both praise and blame.
      obs.
      1913 webster

            if i have demerited any love or thanks. --udall.
      1913 webster

            executed as a traitor . . . as he well demerited.
                                                  --state trials
                                                  1645.
      1913 webster

   2. to depreciate or cry down. r. --bp. woolton.
      1913 webster
see also:
demerit 

[3] : The Collaborative International Dictionary of English v.0.48

demerit \demer"it\, v. i.
   to deserve praise or blame.
   1913 webster

[4] : WordNet (r) 2.0

demerit
     n 1: a mark against a person for misconduct or failure; usually
          given in school or armed forces; "ten demerits and he
          loses his privileges"
     2: the quality of being inadequate or falling short of
        perfection; "they discussed the merits and demerits of her
        novel"; "he knew his own faults much better than she did"
        syn: fault ant: merit
see also:
fault merit 

Demerit >> D Words
Demerit, definition of term: Demerit
demerit_pag1.html