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SALVAGE – is the compensation allowed to persons by whose voluntary assistance a ship at sea or her
cargo or both have been saved in whole or in part from an impending peril, or such property recovered
from actual peril or loss, in cases of shipwrecks, derelict or recapture; a service which one person
renders to the owner of a ship or goods by his own labor, preserving the goods or ship which the owner
or those entrusted with the care of them either abandoned in distress at sea or are unable to protect
and secure; a permit is required to engage in the salvage business
DERELICT – is a ship or cargo which is abandoned and deserted at sea by those who are in charge of it,
without any hope of recovering it, or without any intention of returning it
ELEMENTS OF A VALID SALVAGE
1. A marine peril
2. Service voluntarily rendered when not required as an existing duty or from special contract
3. Success, in whole or in part, or that the services rendered contributed to such success
cargo or both have been saved in whole or in part from an impending peril, or such property recovered
from actual peril or loss, in cases of shipwrecks, derelict or recapture; a service which one person
renders to the owner of a ship or goods by his own labor, preserving the goods or ship which the owner
or those entrusted with the care of them either abandoned in distress at sea or are unable to protect
and secure; a permit is required to engage in the salvage business
DERELICT – is a ship or cargo which is abandoned and deserted at sea by those who are in charge of it,
without any hope of recovering it, or without any intention of returning it
ELEMENTS OF A VALID SALVAGE
1. A marine peril
2. Service voluntarily rendered when not required as an existing duty or from special contract
3. Success, in whole or in part, or that the services rendered contributed to such success
