I. How many years is the IOU valid?

(1) If the term of validity of IOUs and IOUs is permanent, the statute of limitations of IOUs will not affect the effectiveness of IOUs. As long as it is a legally signed, authentic and valid IOU, the IOU itself is valid no matter how long it takes. Time is only a matter of whether the guarantee exceeds the limitation of action and whether it will be protected by law.

As for the statute of limitations of IOUs, just like the statute of limitations of private lending, it depends on whether the repayment time is agreed. If the repayment date is specified, the limitation of action shall be calculated for three years from the day after the repayment date. If there is no agreed return time, the longest limitation of action is 20 years.

(2) What should I do if the IOUs exceed the limitation of action?

1. During the period beyond the limitation of action, both parties shall try their best to reach a repayment agreement on the original IOUs and IOUs through friendly negotiation. If both parties reach a repayment agreement on the original debt, the repayment agreement belongs to a new creditor-debtor relationship and should be protected by law.

2. If the limitation of action is exceeded and both parties cannot negotiate, one creditor may consider sending a notice of repayment due to the other party. If the debtor signs or seals the notice, it shall be deemed as a reaffirmation of the original debt, and the relationship between creditor's rights and debts shall be protected by law.

Article 188 of the Civil Code (effective from 202 1. 1) has a limitation period of three years and the longest period of rights protection. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail. However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.

Second, the difference between IOUs and IOUs is protected by law.

The legal effect of regulating IOUs is the same as that of IOUs, but there are some differences in use and limitation of action, so it must be standardized when using them. As long as they meet the requirements, both are protected by law.

(A) the legal meaning of IOUs and IOUs

IOUs and IOUs are common items in life and work. Although there is only one word difference between these three articles, their legal meanings are far from each other.

An iou is a certificate issued by the debtor to the creditor indicating that it still owes something or a certain amount, which is generally used to prove the relationship between creditor's rights and debts;

An iou is a certificate issued by a lender to a borrower or a borrower to lend something or a certain amount, which is generally used to prove the loan relationship.

(B) the difference between IOUs and IOUs

Many people can't accurately grasp when to write IOUs and when to write IOUs. In fact, it is not difficult to distinguish the three. There are at least three differences between IOUs and IOUs:

First, there is generally a flow of funds or objects behind the IOUs, but there is no IOUs. When the IOU is typed, the lender "just", "is" or "will" deliver the goods or money to the borrower, which is fixed with the IOU in order to confirm the fact of this "flow"; Generally, IOUs are used to settle or prove the opposite state of property ownership and possession, that is, the owner's things are occupied and used by the possessor. This state already exists when IOU is typed, and the purpose of IOU is to confirm the existence of this state.

Secondly, IOUs generally have a loan term and interest. The starting point of the loan term and interest calculation of IOUs is generally the loan date. Although IOUs can also stipulate the repayment period and the legal consequences of overdue repayment, this date is usually a certain time point after IOUs are issued.

civil law

Article 668 A loan contract shall be in written form, except as otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Third, the identity of the IOU.

There are two points worth noting.

First of all, the creditor should check the debtor's identity document and let the debtor write the loan in person. If the debtor gives the creditor a pre-written IOU, it does not rule out the possibility that the debtor's signature in the IOU is signed by someone else. When creditors demanded money back, they refused to pay back on the grounds that it was not their own handwriting. If the IOU is printed, it is best to ask the borrower to sign, stamp and fingerprint the borrower's signature column.

Secondly, if the borrower is also the legal representative or person in charge of a company, the creditor must find out whether the debtor is the borrower himself or the company or enterprise he represents. Legally speaking, the legal representative or person in charge can engage in civil acts including payment on behalf of the company or enterprise. If the creditor is not clear about the identity of the debtor, there may be confusion about the identity of the borrower. The direct consequence is that creditors will face mutual prevarication between companies or enterprises and borrowers in future lawsuits, which will bring trouble to the realization of creditor's rights.

Finally, it is worth mentioning that when you lend money to your friend, you'd better leave a copy of his ID card to prepare for possible lawsuits in the future. Therefore, the IOU must be filled out by the debtor himself.

Keep the IOUs properly. Special attention should be paid to prevent the white bars from being stolen, lost and polluted, and the storage place should be safe and reliable, not easy to get wet and not in contact with chemicals. At the same time, it is best to make several copies, and then you can issue copies to the borrowers first to ensure the safety of the original. ,

Legal objectivity:

Article 668 of the Civil Code of People's Republic of China (PRC) A loan contract shall be in written form, unless otherwise agreed between natural persons. The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method. Article 669 of the Civil Code of People's Republic of China (PRC) concludes a loan contract, and the borrower shall provide the true information about the business activities and financial status related to the loan according to the requirements of the lender.