Pawnshop Loans Quiz

5. It is against the law to pledge or sell property that you do not own at a pawn shop.

a. CORRECT!

True. It is a Class B misdemeanor for borrowers to pledge or sell property they do not own if it is worth less than $50. Pledging or selling property you do not own that is worth $50 to $100 is a Class A misdemeanor. At more than $100, it is a Class C felony to sell property that you do not own.

Reference: Missouri General Assembly Web site (n.d.). Chapter 367. http://www.moga.mo.gov/statutes/chapters/chap367.htm.