Rate this paper
  • Currently rating
  • 1
  • 2
  • 3
  • 4
  • 5
2.00 / 1
Paper Topic:

Salvage

SALVAGE LAW : STIPULATIONS AND AMENDMENTS

Defining Salvage Law

Salvage law dictates the service voluntarily rendered in relieving property from an impending peril at sea or other navigable waters by those under no legal obligation to do so ' Thus , under maritime law salvage refers to the act of `rescuing ' or recovering certain objects in a deteriorating or perilous state at sea of people who have no legal responsibility (e .g . marines , navy . Salvage law also narrates the right of the salvor to proper compensation from the owner of said material property . This

law inhibits embezzlement on the part of salvors and encourages attempts to save property . The basic stipulation of the law embodies the following areas : property , life , and treasure salvage Basic premise of a salvage claim must fulfil the following criteria

There must be a marine peril placing the property at risk of loss destruction or deterioration

The salvage service must be voluntarily rendered and not required by an existing duty or by special contract

The salvage efforts must be successful , in whole or in part

Stress is given on the accomplishment of the attempt in for monetary privileges to be given . With regard to the first requirement the question lies on the state of a marine vessel or ship that exposes or threatens certain properties to loss or destruction . `The danger need not be imminent or actual all that is necessary is a reasonable apprehension of danger . However , if the vessel has the situation under control , there is...

Not the Essay You're looking for? Get a custom essay (only for $12.99)