sal·vage /'sal-vij/ n
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

Merriam-Webster’s Dictionary of Law. . 1996.

I noun conservation, deliverance, extrication, property saved, recapture, reclaimed materials, reclamation, recoupment, recovery, redemption, remains, reoccupation, repossession, rescue, retrieval, return, salvation, scrap associated concepts: equitable salvage, net salvage, salvage charges, salvage loss, salvage service II index recover, recovery (repossession), rehabilitate, renew (refurbish), renewal, renovate, repair, reparation (keeping in repair), replevin, rescue, save (conserve)

Burton's Legal Thesaurus. . 2006

The goods retrieved after the destruction or damage of a building or other property, or the value of those goods; the cargo retrieved from a wrecked ship or other vessel; the goods remaining after some destruction that are claimed by the insurer after it pays the owner for the loss; the act of rescuing goods from destruction.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

a sum payable to a person who saves a ship or its cargo from certain loss. It is not due by contract and, indeed, agreement excludes salvage. It resembles restitution in that the recipient of the salved goods is enriched by the effort of the salvor. It does not precisely fit the scheme of restitution, seen as redressing unjust enrichment, because salvage awards are usually much higher than the expense involved in the rescue.

Collins dictionary of law. . 2001.

1) To save goods.
2) Payment to a person or group that saves cargo from a shipwreck.
Category: Business, LLCs & Corporations

Nolo’s Plain-English Law Dictionary. . 2009.

n. In general, it is the value of a piece of equipment or other property after it has been functionally rendered useless for the purpose for which it was intended. In the case of a totally wrecked automobile, for example, it is the depreciated value of whatever usable parts that can be resold in used condition, plus the value per pound of the remaining scrap metal; in maritime law it's compensation for a service voluntarily given to a vessel in peril that removes it from danger by the sea; in insurance law, the first definition applies, with the proviso that the amount of salvage is deducted from what is paid to the insured.

Webster's New World Law Dictionary. . 2000.

The portion of goods or property that has been saved or remains after some type of casualty, such as a fire.

Dictionary from West's Encyclopedia of American Law. 2005.

The portion of goods or property that has been saved or remains after some type of casualty, such as a fire.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

   1) v. to save goods.
   2) n. payment to a person or group which saves cargo from a shipwreck.

Law dictionary. . 2013.

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  • salvage — [sal′vij] n. [Fr < MFr < salver, to SAVE1] 1. a) the voluntary rescue of a ship or its cargo at sea from peril such as fire, shipwreck, capture, etc. b) compensation paid for such a rescue c) the ship or cargo so rescued d) th …   English World dictionary

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