The general rule is that, in order to make a pawn1 valid against the owner of the goods pawned, it must be shown that the pawnor has authority to pawn2. To this general rule there are exceptions where the person in possession has a title defeasible on account of fraud3; where the owner of the goods by his conduct is estopped from denying the apparent authority of the pawnor4; where the transaction is protected by the provisions relating to mercantile agents and sellers and purchasers of
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