- salvage loss
- noun
: the difference between the amount of the proceeds of what is saved after salvage charges have been deducted and the total value of the property loss
Useful english dictionary. 2012.
salvage loss
Look at other dictionaries:
salvage loss — A marine insurance term signifying a total loss of the property insured diminished by salvage, which takes place in relation to goods when there is either an absolute or a constructive total loss of the subject insured but some remains of the… … Ballentine's law dictionary
salvage — sal·vage / sal vij/ n 1 a: compensation paid for saving a ship or its cargo from the perils of the sea or for recovering it from an actual loss (as in a shipwreck) b: the act of saving or rescuing a ship or its cargo c: the act of saving or… … Law dictionary
loss — is a generic and relative term. It signifies the act of losing or the thing lost; it is not a word of limited, hard and fast meaning and has been held synonymous with, or equivalent to, damage , damages , deprivation , detriment , injury , and… … Black's law dictionary
loss — is a generic and relative term. It signifies the act of losing or the thing lost; it is not a word of limited, hard and fast meaning and has been held synonymous with, or equivalent to, damage , damages , deprivation , detriment , injury , and… … Black's law dictionary
loss — n 1: physical, emotional, or esp. economic harm or damage sustained: as a: decrease in value, capital, or amount compare gain b: an amount by which the cost of something (as goods or services) exceeds the selling price compare … Law dictionary
salvage — In general, that portion of goods or property which has been saved or remains after a casualty such as fire or other loss. In business, any property which is no longer useful (e.g. obsolete equipment) but which has scrap value. In insurance, that … Black's law dictionary
Loss of chance in English law — refers to a particular problem of causation, which arises in tort and contract. The law is invited to assess hypothetical outcomes, either affecting the claimant or a third party, where the defendant s breach of contract or of the duty of care… … Wikipedia
salvage — ► VERB 1) rescue (a ship or its cargo) from loss at sea. 2) retrieve or preserve from loss or destruction. ► NOUN 1) the action of salvaging. 2) cargo salvaged. 3) Law payment made or due to a person who has salvaged a ship or its cargo … English terms dictionary
Salvage title — A salvage title is an automobile title with a notation that the vehicle has been damaged in excess of approximately 70% of its previous market value. This notation gets applied to a title when an insurance company pays a total loss claim on a… … Wikipedia
Loss payee clause — A loss payee clause (or loss payable clause) is a clause in a contract of insurance which provides that in the event of payment being made under the policy in relation to the insured risk, payment will be made to a third party rather than to the… … Wikipedia
