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Liability of pawnbroker in case of fire. 20.(1) Where a pledge is destroyed or damaged by or in consequence of fire the pawnbroker shall be liable, on application made within the appropriate redemption period, to pay to the pawner the value of the pledge, after deducting the amount of the loan and profit, such value to be the amount of the loan and profit, and fifty per cent. of the amount of the loan. (2) A pawnbroker shall have an insurable interest in a pledge to the extent of its value computed in accordance with sub-section (1).
© 1954 Crown Copyright
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