(11)"Pawn Broker" means a person who carries on the business of taking goods and chattels in pawn for a loan.Explanation - Every person who keeps a shop for the purpose of sale of goods or chattels and who purchases goods or chattels and pays or advances thereon any sum of money, with or under an agreement or understanding expressed or implied that the goods or chattels may be afterwards repurchased on any term is a Pawn Broker within the meaning of this clause.
