salvage


salvage
salvageable, adj.salvageability, n.salvager, n.
/sal"vij/, n., v., salvaged, salvaging.
n.
1. the act of saving a ship or its cargo from perils of the seas.
2. the property so saved.
3. compensation given to those who voluntarily save a ship or its cargo.
4. the act of saving anything from fire, danger, etc.
5. the property saved from danger.
6. the value or proceeds upon sale of goods recovered from a fire.
v.t.
7. to save from shipwreck, fire, etc.
[1635-45; < OF; see SAVE1, -AGE]
Syn. 7. retrieve, recover, rescue.

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      in maritime law, the rescue of a ship or its cargo on navigable waters from a peril that, except for the rescuer's assistance, would have led to the loss or destruction of the property. Under some jurisdictions, aircraft may also be salved. Except for salvage performed under contract, the rescuer—known as the salvor—must act voluntarily without being under any legal duty to do so, apart from the general duty to give assistance to those in peril at sea or to stand by after a collision. So long as the owner or his agent remains on the ship, unwanted offers of salvage may be refused. A derelict—a vessel found entirely deserted or abandoned without hope or intention of recovery—is, however, fair game for anyone who comes across it. Typical acts of salvage include releasing ships that have run aground or on reefs, raising sunken ships (or their cargo), putting out fires, and so on.

      The popular belief that a salvor becomes the owner of the property, at least if it was abandoned by the owner or was derelict, is erroneous. The owner may always reclaim his property from the salvor on paying salvage money. The salvor, for his part, has a maritime lien on the salved property (in an amount determined by national statute or juridical custom) and need not return the property to the owner until his claim is satisfied or until security to meet an award is given. An owner who elects not to reclaim his property cannot be made liable for a salvage reward.

      Much salvage is carried out under contract by professional salvors. Ordinarily, such salvors get nothing unless the salvage is to some degree successful.

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Universalium. 2010.

Look at other dictionaries:

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