Pawnbroker – in terms of Law of contracts this term describes the legal figure of licensed professional, who holds movables owned by the debtor, but pledged in favor of their creditors (could be in favor of the pawnbroker if they lend money by business, in their registered pawnshops). The pawnbroker has the right to sell the asset (usually on public auction) 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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