salvage

sal·vage   (sāl'vĭj)    n.   The rescue of a ship, its crew, or its cargo from fire or shipwreck. The ship, crew, or cargo so rescued. Compensation given to those who voluntarily aid in such a rescue. The act of saving imperiled property from loss. The property so saved. The act of saving imperiled property from loss. The property so saved. Something saved from destruction or waste and put to further use. tr.v.   sal·vaged, sal·vag·ing, sal·vag·es To save from loss or destruction. To save (discarded or damaged material) for further use. [Obsolete French, from Old French salvaige, right of salvage, from Late Latin salvāre, from Latin salvus, safe; see sol- in Indo-European roots.] sal'vage·a·bil'i·ty n., sal'vage·a·ble adj., sal'vag·er n.

salvage  (n.)

Main Entry: sal·vage
Pronunciation: 'sal-vij
Function: noun
1 a : compensation paid for saving a ship or its cargo from the perils of the sea or for recovering it from an actual loss (as in a shipwreck) b : the act of saving or rescuing a ship or its cargo c : the act of saving or rescuing property in danger (as from fire)
2 a : property saved from destruction (as in a wreck or fire) b : damaged property acquired by an insurer after payment for the loss —compare ABANDONMENT 1d

Main Entry: ¹sal·vage
Pronunciation: 'sal-vij
Function: noun
: the act or an instance of salvaging <salvage of prematurebabies>

salvage

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.

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