Equitable Salvage

Equitable salvage refers to a legal principle that allows individuals to recover costs or receive compensation for saving a ship or its cargo from peril, even if they do not own it. This concept promotes responsible behavior at sea, encouraging people to assist vessels in distress. The compensation is typically based on the value of the saved property and the efforts made by the salvors, ensuring they are fairly rewarded for their actions. This principle balances individual rights with the greater good, fostering cooperation in maritime situations where assistance can prevent loss or disaster.