The court will not only look at the IOU, but also accept evidence. The judgment standard is mainly based on the loan agreement or IOU. Because there are many situations in life where IOUs are not required, as long as there is evidence from the patient that the patient intends to borrow money, such as witness testimony (there is a witness testimony in this case), telephone recordings, etc.

Limitation of actions for private loans;

Article 188 of the Civil Code The statute of limitations for applying to the People's Court for protection of civil rights is three years. If the law provides otherwise, such provisions shall prevail. Article 9 of the "Regulations of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases (Second Amendment in 2020)" A loan contract between natural persons shall be deemed to be established if any of the following circumstances occurs: (2) By bank transfer Or when the funds are paid by online electronic remittance, the funds arrive in the borrower's account; Article 16 The plaintiff only files a private lending lawsuit based on the transfer voucher from the financial institution. The defendant argued that the transfer was to repay the parties' previous borrowings or their patient debts, and the defendant should provide evidence to support its claim.

How to write a formal IOU to be legally effective;

1. The full legal names of the borrower and the lender should be written clearly, with the borrower’s signature, fingerprint or handwritten signature, and collected Copies of ID card and marriage certificate signed by the borrower. 2. The loan amount should be written clearly, including the amount in words and figures. Write down the loan term clearly, including the start, end, date and clear loan period, and write down the specific repayment date. Write clearly the date, month, date, time and payment method for repaying the loan principal and interest. 3. The loan interest must be written clearly, specifying the annual interest rate or monthly interest rate, the total loan interest to be paid in the end (including the amount of words and figures), etc. The interest rate is up to 4 times the bank's similar loan interest rate. Usury interest rates are not protected by the state. 4. Try to choose bank transfer for payment and delivery. The account number and transfer date charged by the other party can be noted in the IOU. For transfers, you can indicate the purpose of the loan. Require borrowers to write separate receipts for payments received.

When writing a personal IOU, you should pay attention to the following issues: 1. The full legal names of the borrower and the lender should be written clearly; 2. The loan amount should be written clearly, including the amount in uppercase and lowercase letters; 3. The loan period should be clearly written, including the start, end, date and specific period of the loan.