Tennessee Code > Title 45 > Chapter 6 – Pawnbrokers
Current as of: 2023 | Check for updates | Other versions
|Part 1||Pawnbroker Restitution||45-6-101 – 45-6-103|
|Part 2||Pawnbrokers Act of 1988||45-6-201 – 45-6-224|
Terms Used In Tennessee Code > Title 45 > Chapter 6 - Pawnbrokers
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
- Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Current assets: includes the investments made in cash, bank deposits, merchandise inventory, and loans due from customers excluding the pawnshop charge. See Tennessee Code 45-6-203
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Department: means the department of financial institutions. See Tennessee Code 45-1-103
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Good faith: means honesty in fact in the conduct or transaction concerned. See Tennessee Code 45-1-103
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Item: means any instrument for the payment of money, even though not negotiable, but does not include money. See Tennessee Code 45-1-103
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Month: means a calendar month. See Tennessee Code 1-3-105
- Net assets: means the book value of the current assets of a person or pawnbroker less its applicable liabilities as stated in this subdivision (3). See Tennessee Code 45-6-203
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- pawn transaction: means either of the following transactions:
(i) "Buy-sell" agreement means any agreement whereby a pawnbroker agrees to hold a property (pledged goods) for a specified period of time not to be less than sixty (60) days to allow the seller the exclusive right to repurchase the property. See Tennessee Code 45-6-203
- Pawnbroker: means any person, partnership or corporation engaged in the business of lending money on the security of pledged goods. See Tennessee Code 45-6-203
- Pawnshop: means the location at which or premises in which a pawnbroker regularly conducts business. See Tennessee Code 45-6-203
- Person: means any individual, corporation, joint venture, association or any other legal entity however organized. See Tennessee Code 45-6-203
- Personal property: All property that is not real property.
- Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- Pledged goods: means tangible personal property, other than choses in action, securities, printed evidences of indebtedness or title documents, which tangible personal property is purchased by, deposited with, or otherwise actually delivered into the possession of a pawnbroker in connection with a pawn transaction, and includes "pawn" or "pledged property" or similar words. See Tennessee Code 45-6-203
- Pledgor: means the pawn loan customer of the pawnbroker, entering into a pawn transaction with the pawnbroker. See Tennessee Code 45-6-203
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
- Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
- signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- Subpoena: A command to a witness to appear and give testimony.
- United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
- written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105