The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PAWN SHOP Definition & Legal Meaning

Definition & Citations:

A small shop which allows an individual to get a loan, after providing personal property, of an equivalent value, as collateral. If the loan is repaid within the time frame that was agreed, that personal property will be returned. If not, the pawnbroker has the right to liquidate the property in return for the loan.


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