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LSDefine

Simple English definitions for legal terms

salvage award

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A quick definition of salvage award:

A salvage award is a reward given to someone who helps save a ship or its cargo from danger. This reward is not based on any agreement or contract, but is given as a way to encourage people to help save lives and property. The amount of the reward is usually decided by a court. Sometimes, the salvage award is also used to describe the property that is saved after a fire or other loss, which may be kept by an insurance company that has compensated the owner for the loss.

A more thorough explanation:

A salvage award is a compensation given to a person who helps save a ship or its cargo from shipwreck, capture, or other loss. This reward is payable by the shipowner or the owners of goods carried in the ship to the person who saves the property. The right to salvage is an ancient rule of maritime law and is not based on contractual rights.

For example, if a ship is sinking, and a person helps to rescue the crew and cargo, they may be entitled to a salvage award. The amount of the award is usually assessed by the court, but sometimes an express agreement is made before the assistance is rendered.

Another example is when a fire damages a property, and the insurance company compensates the owner for the loss. The remaining property that is saved from the fire is called salvage, and the insurance company may retain it.

Overall, a salvage award is a form of compensation given to those who voluntarily render their services to save life and property. It is a reward to encourage others to undertake the saving of life and property.

salva gardia | salvage charges

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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