pawn


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Related to pawn: Pawn shop

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 periodicals archive ?
For example, suppose that you are looking for a Les Paul guitar or a Remington 870 shotgun but don't want to drive from pawn shop to pawn shop.
Jason Landes at the Palmdale Pawn Shop said his customer base is changing because of the rising gas prices.
DGSE's growing consumer loan activities are represented by Pawn Shop activities under the name National Pawn and Pay Day loan activities under the name American Pay Day Centers.
When combined with the three pawn shop locations acquired in Texas earlier in May, First Cash has expanded its store base by more than 35 percent thus far during the fourth quarter of Fiscal 1994.
SuperPawn is the largest privately-owned pawn operation in the United States with pawn lending locations in Nevada, Arizona, Washington and California.
aggregate outstanding pawn loans in excess of $580,000 as of Jan.
NYSE:PWN), the world's largest provider of secured non-recourse loans, commonly known as pawn loans.
Williamson of Flint, Michigan is a successful entrepreneur and has more than thirty years of experience in manufacturing, new and used automobile sales, and ownership and operation of pawn shops.