salvage value

salvage value

The value of an asset after it has become useless to the owner; the amount expected to be obtained when a fixed asset is disposed of at the end of its useful life.

? Salvage value is used, under some depreciation methods, to determine the allowable tax deduction for depreciation. And under the UCC, when a buyer of goods breaches or repudiates the contract of sale, the seller may, under certain circumstances, either complete the manufacture of any incomplete goods or cease the manufacture and sell the partial product for scrap or salvage value. UCC ¡ì 2-704(2).

¡ª Also termed residual value; scrap value. See DEPRECIATION. [Cases: Sales 384(6).]


How many ways are there to translate salvage value in Chinese?
TermBase About LegalLingo
LegalLingo, a Shanghai-based translation agency, is a recognized leader in comprehensive legal language solutions for the legal industry. We provide the world’s leading law firms and corporate legal teams with a full suite of services, ranging from the translation of contracts and compliance documentation to full-scale multilingual litigation requiring certified translation and Chinese document review. We deliver customized legal document translation solutions based on your case’s size and budget requirements, utilizing industry-leading technology to ensure accuracy, lower costs and faster turnaround times.