Juridical Dictionary

This dictionary contains:
8526
juridical terms

Salvage




Salvage

Maritime law. This term originally meant the thing or goods saved from shipwreck or other loss; and in that sense it is generally to be understood in our old books. But it is at present more frequently understood to mean the compensation made to those by whose means the ship or goods have been saved from the effects of shipwreck, fire, pirates, enemies, or any other loss or misfortune.

RELATED TERMS
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Maritime
That which belongs to or is connected with the sea.

Law
A rule or body of rules of conduct inherent in human nature and essential to or binding upon human society. The learned profession that is mastered by graduate study in a law school and that is responsible for the judicial system.

Term
1) Construction. Word; expression speech. 2) Contracts. This word is used in the civil, law to denote the space of time granted to the debtor for discharging his obligation; there are express terms resulting from the positive stipulations of the agreement; as, where one undertakes to pay a certain sum on a certain day and also terms which tacitly result from the nature of the things which are the object of the engagement, or from the place where the act is agreed to be done. For instance, if a builder engage to construct a house for me, I must allow a reasonable time for fulfilling his engagement. 3) Estates. The limitation of an estate, as a term for years, for life, and the like. The word term does not merely signify the time specified in the lease, but the estate also and interest that passes by that lease; and therefore the term may expire during the continuance of the time, as by surrender, forfeiture and the like. 4) Practice. The space of time during which a court holds a session; sometimes the term is a monthly, at others it is a quarterly period, according to the constitution of the court.

Shipwreck
The loss of a vessel at sea, either. by being swallowed up by the waves, by running against another vessel or thing at sea, or on the coast.

Loss
contracts. The deprivation of something which one had, which was either advantageous, agreeable or commodious.

Books
Commerce, accounts. Merchants, traders, and other persons, who are desirous of understanding their affairs, and of explaining them when necessary, keep, 1. a day book; 2. a journal; 3. a ledger; 4. a letter book; 5. an invoice book; 6. a cash book; 7. a bill book; 8. a bank book; and 9. a cheek book. The reader is referred to these several articles

Present
A gift, or wore properly the thing given. It is provided by the constitution of the United States, that "no person holding any office of profit or trust under them, [the United States] shall, without the consent of congress, accept of any present, emolument, or office, or title of any kind whatever, from any king, prince, or foreign state."

Mean
This word is sometimes used for mesne.

Compensation
1) Contracts. A reward for services rendered. 2) Crim. law; Compeusatio crimiuura, or recrimination. 3) Remedies. The damages recovered for an injury, or the violation of a contract.

Ship
This word, in its most enlarged sense, signifies a vessel employed in navigation; for example, the terms the ship's papers, the ship's hushand, shipwreck, and the like, are employed whether the vessel referred to be a brig, a sloop, or a three-masted vessel.

Effects
This word used simpliciter is equivalent to property or, worldly substance, and may carry the whole personal estate, when used in a will.



SIMILAR TERMS
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Salvage charges
The expenses incurred to remunerate services rendered to a ship and cargo, which have prevented its being a total loss.

Salvage convention
The International Convention on Salvage, adopted by the IMO (supra) at London on April 28, 1989 and in force as of July 14, 1996.

Salvage loss
By salvage loss is understood the difference between the amount of salvage, after deducting the charges, and the original value of the property.

Salvors
Maritime law. When a ship and cargo, or any part thereof, are saved at sea by the exertions of any person from impending perils, or are recovered after an actual abandonment or loss, such persons are denominated salvors; they are entitled to a compensation for their services, which is called salvage.

Salvus plegius
Safe pledge. A surety given that a man shall appear upon a certain day.



PREVIOUS AND NEXT TERMS
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Sale note
A memorandum given by a broker to a seller or buyer of goods, stating the fact that certain goods have been sold by him on account of a person called the seller to another person called the buyer. Sale notes are also called bought notes, and sold notes.

Sales comparison approach
A set of procedures in which an appraiser derives a value indication by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments, based on the elements of comparison, to the sale prices of the comparables.

Salique law
The name of a code of laws so called from the Salians, a people of Germany, who settled in Gaul under their king Phararaond.

Salting cash
Testing accounts receivable employee honesty by placing some cash in the customer receivables process to see if it is reported as cash or stolen.

Salus populi, suprema lex
The welfare of the people is the highest law.

Salvage

Salvage charges
The expenses incurred to remunerate services rendered to a ship and cargo, which have prevented its being a total loss.

Salvage convention
The International Convention on Salvage, adopted by the IMO (supra) at London on April 28, 1989 and in force as of July 14, 1996.

Salvage loss
By salvage loss is understood the difference between the amount of salvage, after deducting the charges, and the original value of the property.

Salvors
Maritime law. When a ship and cargo, or any part thereof, are saved at sea by the exertions of any person from impending perils, or are recovered after an actual abandonment or loss, such persons are denominated salvors; they are entitled to a compensation for their services, which is called salvage.

Salvus plegius
Safe pledge. A surety given that a man shall appear upon a certain day.

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This dictionary contains 8526 terms.







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