pawn

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Pawn

To deliver Personal Property to another as a pledge or as security for a debt. A deposit of goods with a creditor as security for a sum of money borrowed.

In common usage, pawn signifies a pledge of goods, as distinguished from a pledge of intangible personal property, such as a contract right. In a more limited sense, it denotes a deposit of personal property with a pawnbroker as security for a loan. A pawned article is retained until the loan is repaid within a certain time. If it is not repaid on time, the pawnbroker may sell the item.

pawn

v. to pledge an item of personal property as security for a loan, with the property left with the pawn broker. The interest rates are on the high side, the amount of the loan is well below the value of the pledged property, and the broker has the right to sell the item without further notice if the loan is not paid. Pawn brokers are licensed by the state. (See: pledge)

pawn

verb bond, deposit, deposit as collateral, deeosit as security, give as security, give in earnest, hypothecate, impignorate, mortgage, offer collateral, oppignerare, pignerare, pledge, post, put at hazard, put at stake, put in pledge, risk, stake, wager
See also: captive, deposit, pledge, security

pawn

see PLEDGE.

PAWN. A pledge. Vide Pledge.

References in classic literature ?
My husband was so civil to me, for still I say he was much of a gentleman, that in the first letter he wrote me from France, he let me know where he had pawned twenty pieces of fine holland for #30, which were really worth #90, and enclosed me the token and an order for the taking them up, paying the money, which I did, and made in time above #100 of them, having leisure to cut them and sell them, some and some, to private families, as opportunity offered.
She took to drinking, left off working, sold the furniture, pawned the clothes, and played old Gooseberry.
I judge that she had kept the trinket, for some time, in the hope of turning it to better account; and then had pawned it; and had saved or scraped together money to pay the pawnbroker's interest year by year, and prevent its running out; so that if anything came of it, it could still be redeemed.