My question involves criminal law for the state of: New Jersey

I was pulled over doing 40 in a 50. The officer asked me to step out of the car immediately, said he smelt marijuana, and told me to tell him where it was or he would find it and I would be in for a long night. Not wanting the 3 other passengers to get in trouble, I told him where it was located. He arrested me and one other passenger and let the other 2 drive my car to the station where we were let go after I gave my statement saying the other 3 passengers were unaware of the marijuana. I recieved a summons for misdemeanor possession of a controlled dangerous substance under 50 grams.

My questions are:

1. What are the possible penalties for my offense?

2. Is there any possible way to dispute the charge and if so would it even be worth it?

3. What will happen to my other friend who was arrested?