Pinkas of Gmilut Khassadim - The Takanot: Pawns

Pinkas of Gmilut Khassadim

The Takanot: Pawns
The third Takana governs pawns, objects of value used as security for a loan:

Takkanot (3a) -- 14, 15, 16, 17, 18, 19, 20, 21, first part

Takkanot (3b) 21, second part

14. A pawn will be accepted only if the borrower signs a certificate [Raspiski=written record] to the gabai that empowers him [the gabai] to sell the pawn. [As governed by the following takana.]

15. Duration of a loan against a pawn is one month. If the borrower does not redeem the pawn by that time, the society will wait 3 months from the date of granting the loan and sell the pawn after 3 warnings. The money left after deduction of the amount of the loan– is to be returned to the borrower.

16. If the borrower is not found –for any reason– to receive this money, it will be kept in the hands of a trustee for the fund of the society. It will remain in trust for 2 years, after which the money may be used by the society.

Notes:

Page Last Updated: 22-Apr-2015