kingcat
07-14-2013, 07:16 PM
I have a friend who has lost a valuable item in a pawn shop owned by my first cousin. The item was pawned around the first of April but being my "trusted family member" he went back a month or so later and obtained more money on the same item by redoing the loan. (I recall the phone call he made to me seeing if it was appropriate to ask) There was no copy of that agreement although now, the pawnbroker claims it was done three days after the initial loan. That is 100% false.
Said pawnbroker also had forgotten the second loan when asked on the phone after the sale.
The real problem is that there was no notice of sale as per Kentucky statute. The pawnbroker said he just needed some money and so did what he felt he needed by selling the item without notice using the initial agreement as binding.
There is also no address on the initial ticket and as I said, no notice was given. The latest is he now remembers sending a letter. He didn't.
This is a matter of principle to he and I more than anything and its important that the family understands the actions and why there is such hostility. But if he has no case whatsoever, he wants to know.
I told him I'd see what I might find out since...embarrassed to say, it is my family. :1361:
226.050
Pawnbroker to give ticket and receipt for articles
--
Sale after sixty days
--
Notice before sale.
(1)
Every pawnbroker shall give a plain written or printed ticket for the loan to the
person negotiating or selling, and a plain written or printed receipt o
f the articles
that have been purchased, or upon which money is loaned, having on each a copy of
the entries required by KRS 226.040 to be kept in his register. He shall not make
any charge for the ticket or receipt.
(2)
A pawnbroker may sell any article p
awned after the expiration of sixty (60) days
from the maturity of the loan, provided that, not less than ten (10) days before
making the sale, the pawnbroker shall have given notice to the person by whom the
article was pawned, by mail addressed to the po
st office address of such person as
shown on the pawnbroker's register, notifying such person that, unless he redeems
the article within ten (10) days from the date of mailing said notice, the article will
be sold.
Effective:
July 15, 2008
History:
Amended
2008 Ky. Acts ch.
69, sec.
1, effective July 15, 2008.
--
Said pawnbroker also had forgotten the second loan when asked on the phone after the sale.
The real problem is that there was no notice of sale as per Kentucky statute. The pawnbroker said he just needed some money and so did what he felt he needed by selling the item without notice using the initial agreement as binding.
There is also no address on the initial ticket and as I said, no notice was given. The latest is he now remembers sending a letter. He didn't.
This is a matter of principle to he and I more than anything and its important that the family understands the actions and why there is such hostility. But if he has no case whatsoever, he wants to know.
I told him I'd see what I might find out since...embarrassed to say, it is my family. :1361:
226.050
Pawnbroker to give ticket and receipt for articles
--
Sale after sixty days
--
Notice before sale.
(1)
Every pawnbroker shall give a plain written or printed ticket for the loan to the
person negotiating or selling, and a plain written or printed receipt o
f the articles
that have been purchased, or upon which money is loaned, having on each a copy of
the entries required by KRS 226.040 to be kept in his register. He shall not make
any charge for the ticket or receipt.
(2)
A pawnbroker may sell any article p
awned after the expiration of sixty (60) days
from the maturity of the loan, provided that, not less than ten (10) days before
making the sale, the pawnbroker shall have given notice to the person by whom the
article was pawned, by mail addressed to the po
st office address of such person as
shown on the pawnbroker's register, notifying such person that, unless he redeems
the article within ten (10) days from the date of mailing said notice, the article will
be sold.
Effective:
July 15, 2008
History:
Amended
2008 Ky. Acts ch.
69, sec.
1, effective July 15, 2008.
--