Pawning: meaning, definitions and examples
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pawning
[ ˈpɔːnɪŋ ]
financial transaction
Pawning refers to the act of giving an item of value, such as jewelry or electronics, to a pawnbroker in exchange for a loan. The pawnbroker holds the item as collateral until the borrower repays the loan, at which point the item is returned. If the loan is not repaid within a specified period, the pawnbroker has the right to sell the item to recover the loan amount. This practice allows individuals to access quick cash without a credit check.
Synonyms
collateralize, hypothecate, pawn off.
Examples of usage
- She is pawning her gold ring to pay for her bills.
- He decided to pawn his guitar for some extra cash.
- Pawning his watch was a last resort for him.
- They frequently pawn items and redeem them later.
Translations
Translations of the word "pawning" in other languages:
🇵🇹 penhorando
🇮🇳 गिरवी रखना
🇩🇪 Verpfändung
🇮🇩 menggadaikan
🇺🇦 позика
🇵🇱 zastawianie
🇯🇵 質に入れる
🇫🇷 mise en gage
🇪🇸 empeñar
🇹🇷 rehin verme
🇰🇷 전당포에 맡기다
🇸🇦 رهن
🇨🇿 zástava
🇸🇰 záložňa
🇨🇳 典当
🇸🇮 zastava
🇮🇸 veðsetning
🇰🇿 кепілге беру
🇬🇪 პატიოსანი
🇦🇿 ipotekaya qoyma
🇲🇽 empeñar
Etymology
The term 'pawn' originates from the Latin word 'pignus', which means 'pledge' or 'security'. It entered Middle English through the Old French 'pan', which also means 'pledge'. The concept of pawning can be traced back to ancient civilizations where individuals provided valuable items as security for loans. Throughout history, pawnbroking has been a method for obtaining short-term financing. The first documented pawnshops appeared in China and later spread to Europe during the Middle Ages. In these early establishments, the practice was often regulated by law to protect both borrowers and lenders. The word 'pawnbroker' refers to the individual or business that facilitates this exchange, operating under the principle of secured loans. The practice remains prevalent today as a means for those in financial distress to obtain immediate cash.