Definitions of "pawn"
  1. The process where movable or personal property is offered and transferred to a creditor as collateral. The creditor retains the right to satisfy the debt from the property by selling it if the debt is not repaid within a specified timeframe
  2. The condition where an item or property is held as collateral under an agreement of this nature
  3. The action of offering and transferring an item or property as collateral to a creditor to secure a debt
  4. The act of placing an item or personal property as collateral to a creditor
How to use "pawn" in a sentence
  1. To pay for unexpected expenses, he had to pawn his guitar at a local shop.
  2. If the loan is not repaid in time, the pawned item can be sold by the creditor to recover the debt.
  3. In financial distress, individuals often resort to the act of pawn to meet their immediate needs.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z