Generally speaking, a contract is valid as long as it is the true intention of both parties. If the signature is illegible, the contract is also valid if it is approved by the party who signed it, unless otherwise stipulated, for example, the contract is invalid without the company seal or the contract is invalid without the company seal. A general contract takes effect after both parties sign or seal it. If there is no agreement signed and sealed, then only the signed contract is valid. Under normal circumstances, the signature of an unwitting IOU has no legal effect, but the specific word needs to be judged according to the actual situation. For example, when writing an IOU, it is legally invalid if there is fraud, coercion or fair performance.

1. Both borrowers and lenders have corresponding civil capacity;

2. Both parties to the contract agree;

3, the loan contract does not violate the mandatory provisions of laws and regulations and public order and good customs;

4. The loan contract must be signed according to the credit plan approved by the state and relevant regulations;

5. The lender shall investigate the credit status and operation of the loan applicant;

6. The interest rate of the loan contract shall be signed at the interest rate uniformly stipulated by law, otherwise the signed loan contract shall be invalid.

To sum up, only the name is valid when signing the contract. A general contract takes effect after both parties sign or seal it. If there is no agreement signed and sealed, then only the signed contract is valid. As long as it is the true intention of both parties, the contract is valid. If the signature is illegible, the contract is also valid if it is approved by the party who signed it, unless otherwise stipulated, for example, the contract is invalid without the company seal or the contract is invalid without the company seal.

Legal basis:

Article 490 of the Civil Code of People's Republic of China (PRC)

If the parties enter into a contract in the form of a contract, the contract shall be established when the parties sign, seal or press their fingerprints. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it.