This procedure amounts to a secured loan rather than a true pawn pursuant to KRS Chapter 226

This procedure amounts to a secured loan rather than a true pawn pursuant to KRS Chapter 226 KRS (4) directs that “[a]ll words and phrases shall be construed according to the common and approved usage of language?” Moreover, “[w]hen language is clear and unambiguous, it will be held to mean what it plainly expresses.” Hawley Coal Co. v. Bruce, 252 Ky. 455, 67 S.W.2d 703, 705 (1934). In KRS Chapter 226, the phrase “on deposit of personal property” is used repeatedly to define and to describe a pawn transaction. We must, therefore, construe this phrase according to the common, plain meaning of the word deposit. This appeal followed A naked bailment of goods to be kept for the depositor without reward, and to be returned when he shall require it? As used in Chapter...

Visit Us On TwitterVisit Us On FacebookVisit Us On Linkedin