Worthy of receiving a compliment; deserving praise or admiration.
From compliment (from French compliment, from Spanish cumplimiento 'fulfillment, courtesy') plus the adjective-forming suffix -able (from Latin -abilis 'capable of'). The meaning reverses the verb—instead of giving compliments, describing what can receive them.
This is a logically formed but vanishingly rare word—we'd normally say 'praiseworthy' or 'admirable' instead. Its rarity shows how English naturally selects shorter, punchier words over longer constructed ones, even when both are perfectly grammatical.
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