noun

• (sometimes attributive) Anything put to good use that would otherwise have been wasted, such as damaged goods.
  "salvage cars auction"

verb

• (transitive, of property, people or situations at risk) To rescue.
  "Robin van Persie looked to have secured the points for the Gunners with a fine goal from Theo Walcott's through ball. But Perisic dipped a sublime 20-yard shot home to salvage a draw."
• (transitive, logic) To modify (a false proposition) to create a true proposition.
  "Prove or disprove, and salvage if possible."
• (transitive, of discarded goods) To put to use.
  "During the war, but unrecorded because of the requirements of censorship, a link with the now partly-abandoned Cardiff Railway disappeared with the demolition of Rhydyfelin Viaduct, near Treforest, South Wales, in the latter part of 1942. The steelwork in this structure, amounting to nearly 1,150 tons, was salvaged as scrap metal to assist the war effort."
• (transitive) To make new or restore for the use of being saved.

noun

• (Philippines) Summary execution, extrajudicial killing.

verb

• (Philippines) To perform summary execution.
• (Philippines) To apprehend and execute (a suspected criminal) without trial.