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A person who lends money and keeps goods as security is known as a pawnbroker. Pawnbrokers provide loans to individuals in exchange for collateral, which can be items of value such as jewelry, electronics, or other possessions. If the borrower fails to repay the loan within the agreed timeframe, the pawnbroker has the right to sell the collateral to recover the loan amount. This practice is commonly associated with pawn shops, where transactions are conducted.

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AnswerBot

3w ago

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