§ 554.7308

554.7308 Enforcement of carrier’s lien. 1. 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, afternotifying all persons known to claim an interest in the goods. The notification must include astatement of the amount due, the nature of the proposed sale, and the time and place of anypublic sale. The fact that a better price could have been obtained by a sale at a different timeor in a method different from that selected by the carrier is not of itself sufficient to establishthat the sale was not made in a commercially reasonable manner. The carrier sells goods ina commercially reasonable manner if the carrier sells the goods in the usual manner in anyrecognized market therefor, sells at the price current in that market at the time of the sale, orotherwise sells in conformity with commercially reasonable practices among dealers in thetype of goods sold. A sale of more goods than apparently necessary to be offered to ensuresatisfaction of the obligation is not commercially reasonable, except in cases covered by thepreceding sentence. 2.

f goods sold. A sale of more goods than apparently necessary to be offered to ensuresatisfaction of the obligation is not commercially reasonable, except in cases covered by thepreceding sentence. 2. 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 incomplying with this section. In that event, the goods may not be sold but must be retainedby the carrier, subject to the terms of the bill of lading and this Article. 3. A carrier may buy at any public sale pursuant to this section.4. 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 noncompliancewith this section. 5. 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 wouldhave been bound to deliver the goods. 6. The rights provided by this section are in addition to all other rights allowed by law to a creditor against a debtor. 7.

any person to which the carrier wouldhave been bound to deliver the goods. 6. The rights provided by this section are in addition to all other rights allowed by law to a creditor against a debtor. 7. A carrier’s lien may be enforced pursuant to either subsection 1 or the procedure set forth in section 554.7210, subsection 2. 8. 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. [R60, §1899 – 1904; C73, §2177 – 2181; C97, §3130 – 3133; S13, §3131, 3138-a33, -b26; C24, 27, 31, 35, 39, §8271, 9693, 10327 – 10336; C46, 50, 54, 58, 62, §487.27, 542.33, 575.3 – 575.7,575.9 – 575.12; C66, 71, 73, 75, 77, 79, 81, §554.7308] 2007 Acts, ch 30, §23, 45, 46Referred to in §576.2, 577.2, 577.3, 578.2 Sat Dec 23 01:57:55 2023 Iowa Code 2024, Section 554.7308 (24, 0)