1. Is it valid for both husband and wife to sign the IOU?
The iou signed by one spouse is valid, but it can only be signed on behalf of the other spouse if authorized by the other spouse. Debts jointly signed by husband and wife or ratified by one of them with the same meaning afterwards. Belonging to the same debt of husband and wife, both husband and wife have the obligation to pay off.
The promissory note signed by one of the spouses is valid, and if the creditor claims that the debts incurred by one of the spouses in his own name during the marriage relationship, it shall be treated as the debts of the spouses in principle. A contract may not be signed by himself, but it is still valid if it is signed by an agent. The legal consequences arising from the contract concluded by the entrusted agent shall be borne by the principal, that is to say, the contract signed by the husband and wife is valid. However, personal contracts in adoption agreements and divorce agreements must be handled by the parties themselves and cannot be signed by others.
2. How many years is the statute of limitations for IOUs?
(1) It depends on the content of the loan. If the repayment time is not agreed, the limitation of action shall be three years from the date when the lender demands repayment.
(2) If the repayment time is agreed on the IOU, it shall be three years from the date when the repayment period expires.
(3) If the repayment date is not specified on the IOU, the creditor may demand repayment from the debtor at any time, and the debtor may also repay the creditor at any time.
(4) IOUs are debt disputes. As long as the creditors have evidence to prove that they have claimed their rights within the limitation period, the limitation period will be recalculated, but the longest is not more than 20 years.
(5) The plaintiff only has the single evidence of IOU, and the litigation effect in the litigation is relatively weak, so it is difficult to form a complete chain of evidence, and it is difficult to prove the reason and authenticity of the debt, so it is difficult to win the case. However, if the debtor admits the existence of the fact of arrears in court, it will certainly win the case.
Third, does the loan between husband and wife have legal effect?
The IOUs written between husband and wife are generally valid. The law clearly stipulates the loan relationship between husband and wife, that is, if the husband and wife enter into a loan agreement and lend the property of one spouse to one party for personal business activities or other personal affairs, the borrower can give half of the actual loan amount to the other party according to the agreement at the time of divorce. Therefore, this loan relationship is also an effective loan relationship and should be returned when divorced.
No matter the signature of the agent or one party, the IOU is valid. If we want to determine the statute of limitations of IOUs, we must first determine whether there is a repayment time in IOUs. If there is a clear repayment time in the IOU, the limitation of action is three years from the due date of repayment. If the repayment time is not stipulated in the IOU, the statute of limitations for IOU is 20 years.