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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

007

:
Documents of Title











 

§

7-308. Enforcement of carrier's lien

(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

shall be retained by the carrier, subject to the terms of the bill of lading

and this article.

(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 subsection 7-210(b) of this title.

(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.

(Added 2015, No. 51, § B.3, eff. June 3, 2015.)