As a legal document issued by the debtor, the IOU is a legal IOU with legal effect, provided that the issuer has corresponding civil capacity and the debt reason is legal, as long as there is a clear debt amount in the IOU and the IOU is signed by the debtor.
Of course, if the identity information of both parties (ID number, address, etc. ), the reasons for the arrears, as well as the specific repayment date and the corresponding liability for breach of contract are stated in the IOU, which is conducive to the handling of disputes in the future.
According to general experience, an IOU is legal and valid as long as it includes the lender, borrower, loan amount, loan time and other main contents. Standard IOUs shall include the following contents:
(1) Write clearly the legal full names of the borrower and the lender.
(2) Write down the loan amount clearly, including the amount in words and figures.
(3) Write clearly the loan term, including the beginning, end, year, month, day and clear loan term.
(four) write clearly the loan interest, there should be a clear annual interest rate or monthly interest rate, and finally pay the total loan interest.
(5) The date, month, date, time and payment method of repayment of loan principal and interest shall be clearly written.
(6) The borrower's personal signature, handprint or handwritten signature shall be available.
Legal basis: Civil Code of People's Republic of China (PRC).
Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.
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, at the request of the lender, provide the true information about the business activities and financial status related to the loan.