12A:7-602 - Attachment of goods covered by a negotiable document - New Jersey Statutes

12A:7-602.  Attachment of goods covered by a negotiable document
    Except where the document was originally issued upon delivery of the goods by a person who had no power to dispose of them, no lien attaches by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless the document be first surrendered to the bailee or its negotiation enjoined, and the bailee shall not  be compelled to deliver the goods pursuant to process until the document is  surrendered to him or impounded by the court.  One who purchases the document  for value without notice of the process or injunction takes free of the lien  imposed by judicial process.

     L.1961, c. 120, s. 7-602.