Salvage meaning

Something saved from destruction or waste and put to further use.

Salvage is the act of saving something such as a ship or its cargo, the actual thing which is saved or the value of the goods saved.

Salvage is defined as to save from something.

The rescue of a ship or its cargo from fire or shipwreck.

The ship or cargo saved in such a rescue.

Award given to those who aid in such a rescue when under no obligation to do so, especially in the form of a portion of the cargo.

The recovery of a sunken ship or its cargo by divers or submersibles.

The act of saving imperiled property from loss.

The property so saved.

To save from loss or destruction.

To save (discarded or damaged material) for further use.

The voluntary rescue of a ship or its cargo at sea from peril such as fire, shipwreck, capture, etc.

Compensation paid for such a rescue.

The ship or cargo so rescued.

The recovery of a sunken or wrecked ship or its cargo as by divers.

The saving or rescue of any goods, property, etc. from destruction, damage, or waste.

Any material, goods, etc. thus saved and sold or put to use.

The value, or proceeds from the sale, of such goods, specif. of damaged goods, as involved in insurance claim settlements.

To save or rescue from shipwreck, fire, flood, etc.; engage or succeed in the salvage of (ships, goods, etc.)

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.

The ship, crew or cargo so rescued.

The similar rescue of property liable to loss; the property so rescued.

Anything that has been put to good use that would otherwise have been wasted.

Of discarded goods, to put to use.

To make new or restore for the use of being saved.