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 ?
So it came that I had to pawn my lands to the Priory of Emmet for more money, and a hard bargain they drove with me in my hour of need.
You feel yourself and your branch stores a pawn in the game.
I will pawn my whole reputation in the world on her conduct.
First, I solved two chess problems, and one a very pretty one--a pawn opening.
She told me that she was turned pawnbroker, and that she would sell those things for me as pawn to her; and so she sent presently for proper agents that bought them, being in her hands, without any scruple, and gave good prices too.