Salvage

Salvage is a legal principle which allows individuals to recover costs for saving property that is in danger, particularly from marine environments. It incentivizes the rescue of property by granting the salvors a right to claim a reward proportionate to the value of the salvaged property.

The principle of salvage has its roots in maritime law, stemming from ancient practices where those rescuing vessels or cargo in distress were entitled to compensation. The concept has evolved over centuries, formalized in various international conventions.

In modern law, salvage is governed by statutes and international agreements, with the International Convention on Salvage, 1989, being a primary legal framework. Courts assess the value of the property salvaged and the efforts taken in the recovery, determining appropriate compensation for salvage services rendered.

• A fisherman rescues a sunken boat and is entitled to a percentage of its market value as a reward for their efforts.
• A salvage company recovers a sunken cargo ship and successfully claims salvage rights to a portion of the recovered cargo's value.

• The 'Lawrence' (1820) 1 C. Rob. 20, a case addressing salvage rights