IOUs and IOUs are both proofs of debts and creditor's rights, but they are quite different. If the repayment date is indicated on the IOU, there is no difference in the limitation of action between the two. If the date of repayment is not specified when writing, the lender can demand repayment from the debtor at any time, while the creditor can demand repayment from the debtor at any time for the IOU. However, within two years from the date of issuance of the IOU, the creditor will lose the right to win the lawsuit if he does not claim his rights. Therefore, when borrowing money to make IOUs, you must indicate whether you want to make IOUs according to your own needs.
Extended data:
1. IOUs are written documents showing the relationship between creditor's rights and debts. Generally written and signed by the debtor, indicating that the debtor has owed the creditor the amount indicated on the IOU. An iou refers to a bill written to the other party when borrowing personal or public cash or goods, that is, an iou. After the money and goods are returned, the bill is revoked or torn by the bill holder. This is a document. Usually used in daily life and business management.
From a legal point of view, an IOU is a written document showing the relationship between creditor's rights and debts, which is generally written and signed by the debtor, indicating that the debtor has owed the creditor the amount indicated on the IOU.
2. IOUs refer to IOUs written to relevant units or individuals when an individual or unit owes money. White stripes are also called "IOUs" today. IOU is also a common written document in daily life to prove that one party owes money to the other, and it is an application style of credentials.
The difference with IOUs
(1) is formed for different reasons.
The reason for the formation of IOUs is the specific borrowing facts; There are many reasons for the formation of IOUs, which can be based on a variety of facts, such as buying and selling, labor services, enterprise contracting and so on. The legal consequences are different.
(2) The limitation of action is different.
The time limit of IOUs with agreed repayment period and IOUs without agreed repayment period is the same, but IOUs without agreed repayment period are different. For the IOUs with no agreed repayment period, the lender can ask the borrower to repay at any time, and the limitation of action starts from the time when the creditor claims the rights, and the effectiveness of IOUs can be up to 20 years at the longest; An iou without an agreed performance period is the settlement of past economic exchanges between the two parties. The limitation of action shall be counted from the date when the IOU is issued, and the creditor shall claim the rights to the people's court within two years from the date when the IOU is issued.
(3) The burden of proof is different.
Generally, the IOU holder only needs to simply state the borrowing facts to the judge; The holder of the IOU must state the facts of the IOU to the judge. If the other party denies it, the holder of the IOU must further prove the fact that the IOU was formed.
References:
Baidu encyclopedia-IOU Baidu encyclopedia-IOU