Flotsam and Jetsam
goods lost at sea. Flotsam applies to goods found floating; jetsam to articles that sink to the bottom. According to English law, goods cast on the shore belong to the finder, while flotsam and jetsam belong to the original owner. In case the owner can prove property the finder must deliver up goods recovered at sea. The finder is entitled to reasonable charges, known as salvage.
Volume II · Aiton’s Encyclopedia