1. It must be something that can prove the fact of debt;
2. It must be the expression of true meaning;
3. The IOUs must be obtained legally.
The contents of IOUs include the following contents:
1. Title: The title of IOUs is generally composed of the name of the language, that is, the word "IOUs" is written in a larger font at the top and middle of the main text. Some people write the words "temporarily owed" or "today owed" as the title, but this title is written in the top box of the next line;
2. Text: The official text of the IOU should write down what is owed to who or what unit and how much, and indicate the date of repayment;
3. Signature: The name of the owed party and the personal signature of the handler shall be affixed to the signature. If the debt is issued by an individual, the personal name of the owed party shall be affixed. And at the same time, the date of the debt is signed. Units should be stamped with official seals, and individuals should be stamped with private seals.
to sum up, not all IOUs are valid, and not all IOUs are invalid. It mainly depends on whether the IOUs in your hand clearly indicate the names and wishes of both parties. And most importantly, the generation of IOUs must take place under the conditions of equality and voluntariness of both parties.
Legal basis:
Article 667 of the Civil Code of the People's Republic of China
A loan contract is a contract in which the borrower borrows money from the lender, returns the loan at maturity and pays interest.
Article 668
A loan contract shall be in written form, unless it is otherwise agreed between natural persons to borrow money.
the contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.
article 669
when concluding a loan contract, the borrower shall provide the true information about the business activities and financial status related to the loan as required by the lender.
Article 67
Interest on a loan may not be deducted from the principal in advance. If the interest is deducted from the principal in advance, the loan shall be returned according to the actual loan amount and the interest shall be calculated.
Article 671
Where the lender fails to provide the loan on the agreed date and amount, thereby causing losses to the borrower, it shall compensate for the losses.
if the borrower fails to collect the loan according to the agreed date and amount, it shall pay interest according to the agreed date and amount.
Article 672
The lender may inspect and supervise the use of the loan as agreed. The borrower shall provide the lender with relevant financial and accounting statements or other materials on a regular basis in accordance with the agreement.
Article 673
If the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.