Private property owner charges huge fine

[kakadia]

What is the name of your state (only U.S. law)?
New Jersey

I want to know if private property owner can charge any fine from car owner.
I parked my car in private property by mistake. It was actually a free parking lot but few spots werer reserved for property owner.
They did put some sign on 8.5" x 11" paper but I just missed that somehow.
When I went back after 10 minutes, my car was booted by them. They charged me $175 to release the boot.
Later on I found that they have put cameras there and keep a watch for entire day and do the same thing to everybody.
I agree that I committed a mistake there. But I have some doubts:
- what all rights the private property owner has in this case?
- how much fine a private property owner can charge the car owner? is there any minimum or maximum limit?
- how big the sign posted by private property owner should be?
- are there any laws for all of the above? If so, where can I find on net?

Please help/advice on this matter.

ThanksWhat is the name of your state (only U.S. law)?

[Dougthegreat]

What are the sign requirements in your city?
What are the boot/towing limits in your city?
Is there a "minimum wait" period defined for booting/towing?

These are sometimes defined by the state, but can be overridden by a city code. If your city has a website, look there first, and if you don't find anything pertaining to the questions above, look on your state's website.

Research those. Any other excuses you made in your original post are invalid. I have successfully fought improper booting in the past, and by spending 20 minutes to research the three questions above, I saved myself a goodly amount of cash.