<div class="chunk-title">Sec. 5-78. - Definitions.</div>
<div class="chunk-content">
            <p class="p0">
               As used in this article, the following definitions shall apply:
               </p>
            <p class="p0">
               <span class="ital">Pawn</span> or <span class="ital">pawn transaction</span> means a written bailment of personal property as security for a debt, redeemable
               on certain terms within one hundred eighty (180) days, unless renewed, and with an
               implied power of sale on default.
               </p>
            <p class="p0">
               <span class="ital">Pawnbroker</span> means any person engaged in the business of lending money on the security of pledged
               goods and who may also purchase merchandise for resale from dealers and traders.
               </p>
            <p class="p0">
               <span class="ital">Pawnshop</span> means the location at which, or premises in which, a pawnbroker regularly conducts
               business.
               </p>
            <p class="p0">
               <span class="ital">Person</span> means any individual, corporation, joint venture, association, or any other legal
               entity, however organized.
               </p>
            <p class="p0">
               <span class="ital">Pledged goods</span> means tangible personal property which is deposited with, or otherwise actually delivered
               into, the possession of a pawnbroker in the course of his business in connection with
               a pawn transaction.
               </p>
            <p class="p0">
               <span class="ital">Purchase</span> means any item purchased from an individual for the purpose of resale whereby the
               seller no longer has a vested interest in the item.
               </p>
            <p class="historynote0">
               (Ord. of 1-7-97)
               </p></div>