Pawn – in terms of Law of contracts this term details a security, achieved via establishing a burden on the movable assets of the debtor. Briefly the valuable asset has been handled to licensed pawnbroker for temporary hold for the term of the loan issued to the debtor. The pawnbroker has the right to sell the asset in case of non-payment of the debt, and to forward the achieved money towards the creditor in who’se favor the pawn has been set-up.

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