The contract of pawn1 carries with it an implication that the security may be made available to satisfy the obligation2. Under this implication a pawnee has a power of sale on default of payment if the time for payment has been fixed3. If there is no stipulated time for payment, the pawnee may demand payment, and in default of payment may sell, on notice to the pawnor of his intention to do so4. The pawnor retains his right to redeem at any moment up to sale5,
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