If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required document is forged or materially fraudulent, or honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant:
If an applicant claims that a required document is forged or materially fraudulent or that honor of the presentation would facilitate a material fraud by the beneficiary on the issuer or applicant, a court of competent jurisdiction may temporarily or permanently enjoin the issuer from honoring a presentation or grant similar relief against the issuer or other persons only if the court finds that:
The relief is not prohibited under the law applicable to an accepted draft or deferred obligation incurred by the issuer;
A beneficiary, issuer or nominated person who may be adversely affected is adequately protected against loss that it may suffer because the relief is granted;
Structure Mississippi Code
Title 75 - Regulation of Trade, Commerce and Investments
Chapter 5 - Uniform Commercial Code-Revised Article 5. Letters of Credit
§ 75-5-104. Formal requirements
§ 75-5-106. Issuance, amendment, cancellation and duration
§ 75-5-107. Confirmer, nominated person and adviser
§ 75-5-108. Issuer's rights and obligations
§ 75-5-112. Transfer of letter of credit
§ 75-5-113. Transfer by operation of law
§ 75-5-114. Assignment of proceeds
§ 75-5-115. Statute of limitations
§ 75-5-116. Choice of law and forum
§ 75-5-117. Subrogation of issuer, applicant and nominated person