{"data":{"id":"us-ms/miss.-code-ann.-75-2-325","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 75-2-325","heading":"“Letter of credit” term; “confirmed credit.”","body":"(1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale.\n(2) The delivery to seller of a proper letter of credit suspends the buyer’s obligation to pay. If the letter of credit is dishonored, the seller may on seasonable notification to the buyer require payment directly from him.\n(3) Unless otherwise agreed the term “letter of credit” or “banker’s credit” in a contract for sale means an irrevocable credit issued by a financing agency of good repute and, where the shipment is overseas, of good international repute. The term “confirmed credit” means that the credit must also carry the direct obligation of such an agency which does business in the seller’s financial market.","path":["Title 75. Regulation of Trade, Commerce and Investments","Chapter 2. Uniform Commercial Code — Sales","Part 3. General Obligation and Construction of Contract."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.75.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:13Z","sha256":"bf3420e784ffb7854d499117197c6dae481dd54e6947e3e2fa52ab13914b90dd","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-75-2-324","next":"us-ms/miss.-code-ann.-75-2-326","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}