Question

Ray was not a pawnbroker. Why then did he lend money to people in exchange for their old watches and clocks?

Answer 1

Ray was not a pawnbroker. He lent money to people in exchange for their old watches and clocks because he knew that they were in need of money. He loaned more money than he should have. He kept the watches till the owners wanted them back and he would return them at the same price he had paid, with no interest.