What does pawning an item at a pawn shop mean?

Question

What does pawning an item at a pawn shop mean?

Answer 1

pawning an item at a pawn shop is simple; you enter a pawn shop, and tell them that you'd like to pawn an item. They look it over and you tell them that you would like to pawn it for however much money, and they take the item, and loan you the money. Every period of time (this will be nagotioated between you and the pawn shop) you will own the pawn shop however much more money (this will also be nagotiated). If the loan is not payed off in however many days, the pawn shop will keep the item, and be able to sell it to the public. Example; One day you enter a pawn shop and go up to the counter and say "I would like to pawn this old musket." "Okay, how much money would you like to pawn it for?" "$100.00." "Okay, the intrest will be $20.00 every month, is this okay?" "That sounds fine. How long do I have to repay the loan&intrest?" "You wil have 90 days to repay the loan and intrest, which at the end of this time will be $160.00." "Sounds good to me!" ENDING 1 You come back in 60 days, pay $140.00, take the gun, and walk out. ENDING 2 90 days has passed without you paying off the loan+intrest: You walk into the pawn shop to pay off youre debt, and the person behind the counter says "90 days has passed without you paying off youre debt:this rifle now belongs to the pawn shop."