New Jersey § 12a:7-308

§ 12a:7-308.

a. A carrier's lien on goods may be enforced by public or private sale of the goods,

in bulk or in packages, at any time or place and on any terms that are commercially

reasonable, after notifying all persons known to claim an interest in the goods. The notification shall include a statement of the amount due, the nature of the

proposed sale, and the time and place of any public sale. The fact that a better price could have been obtained by a sale at a different time

or in a method different from that selected by the carrier is not of itself sufficient

to establish that the sale was not made in a commercially reasonable manner. The carrier sells goods in a commercially reasonable manner if the carrier sells

the goods in the usual manner in any recognized market therefor, sells at the price

current in that market at the time of the sale, or otherwise sells in conformity with

commercially reasonable practices among dealers in the type of goods sold. A sale of more goods than apparently necessary to be offered to ensure satisfaction

of the obligation is not commercially reasonable, except in cases covered by the preceding

sentence. b. Before any sale pursuant to this section, any person claiming a right in the goods

may pay the amount necessary to satisfy the lien and the reasonable expenses incurred

in complying with this section. In that event, the goods may not be sold but must be retained by the carrier, subject

to the terms of the bill of lading and this Chapter. c. A carrier may buy at any public sale pursuant to this section. d. A purchaser in good faith of goods sold to enforce a carrier's lien takes the goods

free of any rights of persons against which the lien was valid, despite the carrier's

noncompliance with this section. e. A carrier may satisfy its lien from the proceeds of any sale pursuant to this section

but shall hold the balance, if any, for delivery on demand to any person to which

the carrier would have been bound to deliver the goods. f. The rights provided by this section are in addition to all other rights allowed

by law to a creditor against a debtor. g. A carrier's lien may be enforced pursuant to either subsection a. of this section

or the procedure set forth in 12A:7-210b. h. A carrier is liable for damages caused by failure to comply with the requirements

for sale under this section and, in case of willful violation, is liable for conversion.