Pawn

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Pawn

1. To give at item to a pawnbroker in exchange for a loan. When one pawns an item, one receives the loan and gives the pawnbroker possession of the item. One may receive the item back within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of a loan and it does not affect the borrower's creditworthiness.

2. A fairly uncommon term for collateral.
References in periodicals archive ?
Juveniles busted for pawning off counterfeit currency as the real thing face stiff fines and possible jail sentences, depending upon the amount of fake money being distributed, officials said.
It's relatively intelligent and interesting entertainment, which indeed sets it apart from the bunk most moviemakers are pawning off these days.
In closing arguments Tuesday in the first trial of a lawsuit over the La Conchita landslide, an attorney accused former owners of pawning off a vulnerable house in the path of a landslide to unsuspecting buyers.