This section is from the book "The Law Of Contracts", by Theophilus Parsons. Also available from Amazon: The law of contracts.
If insurers accept an abandonment properly made, they are bound thereby, and an acceptance waives all objections to a want of formality. (w)
The acceptance may be constructive; and insurers were held where the vessel was abandoned and they took possession and held it for a considerable time, although the insured had no right to abandon. (ww)
But the insurers neither need accept nor refuse; for, whether they refuse or are only silent, the insured possesses whatever * rights or remedies the abandonment would give him. (x) Even where insurers expressly refuse to accept,
Co. 11 Johns. 9; Howland v. Marine Ins. Co. 2 Cranch, C. C. 474; Sewall v. U. S. Ins. Co. 11 Pick. 90; Ellicott v. Alliance Ins. Co. 14 Gray, 318.
(t) Allwood v. Henckell, Park, Ins. 289; Roux v. Salvador, 8 Bing. N. C. 281; Teasdale v. Charleston Ins. Co. 2 Brer. 190. See Thwing v. Washington Ins. Co. 10 Gray, 448.
(u) Muir v. United Ins. Co. 1 Caines, 49; Bosley v. Chesapeake Ins. Co. 8 Gill if they exercise the right and power of property over the salvage, this will be held to be the equivalent of acceptance. (y) If without acceptance, and even without abandonment, insurers pay a total loss, the salvage belongs to them.
& J. 450; Bainbridge v. Neilson, 1 Camp. 237, 10 East, 341.
(v) Gardner v. Columbian Ins. Co. 2 Cranch, C. C. 550; Duncan v. Koch, J. B. Wallace, 45.
(w) Smith v. Robertson, 2 Dow, 482.
(ww) Copelin v. Ins. Co. 9 Wall. 461.
(x) Peele v. Merchants Ins. Co. 8 Mason, 81; Badger v. Ocean Ins. Co. 28 Pick. 847. But see Hudson v. Harrison, 3 Brod. & B. 97.
1 See also Kaltenbach v. Mackenzie, 3 C. P. D. 467.
Whenever salvage belongs to the insurers, they take it with the incumbrance of any charge or lien, caused by a peril against which they insure; as, for example, the charges and expenses incurred in saving the property. But charges or liens on the salvage, springing from perils not insured against, the insured must discharge, or repay to the insurers if they discharge them. (z)
After abandonment, the property thereby transferred, is at the risk of the insurers, who are now the owners, and they are chargeable as such for any further expenses in relation to it. (a)
 
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