The contents that generally need to be stated in an IOU include: the full legal names of the debtor and creditor, the specific time of the debt and the reason for the debt, the amount of debt, including the amount in uppercase and lowercase letters, and the repayment The specific time and payer must be signed, stamped or fingerprinted by the debtor.

When a lender files a private loan lawsuit in the People's Court, it shall provide IOUs, receipts, IOUs and other evidence of creditor's rights, as well as other evidence that can prove the existence of the legal relationship between the loan and the loan. If the creditor's rights certificates such as IOUs, receipts, and IOUs held by the parties do not indicate the creditor, and the party holding the creditor's rights certificates files a private loan lawsuit, the People's Court shall accept it.

The defendant raised a fact-based defense against the plaintiff’s creditor qualifications. After review, the People’s Court held that the plaintiff did not have creditor qualifications and ruled to dismiss the lawsuit. The borrower is an individual and must sign in person. The legal validity of an IOU signed by someone else will cause disputes. For example, if Zhang San signs a loan in Li Si’s name, it will bring legal trouble to the lender.

Notes

The full name of the borrower must be consistent with the ID card. It is best not to write the code name of the borrower, such as Sister Zhang or Brother Li, to avoid obstacles when claiming creditor's rights. Write the loan amount clearly, such as RMB in RMB, in uppercase and lowercase. The amount in lowercase and uppercase should be the same to avoid disputes arising from unclear handwriting and unclear understanding of the amount.

For private loans, if there is an agreed interest rate, it will be performed in accordance with the agreement between the two parties. If there is no agreed interest rate, it will be regarded as an interest-free loan. Before the date when the creditor separately claims repayment and pays interest, during this period of normal loan period, the People's Court generally does not support the recovery of interest. Whether the repayment method is to repay the principal and interest in one lump sum or in installments, and how much to repay over a period of time, it needs to be clearly written down.