An IOU is legal as long as it is the true intention of both parties and does not violate the law.

The content of the IOU needs to meet the following conditions: there is a real creditor-debtor relationship between the two parties; The debtor has full capacity; There is a clear amount of arrears; You can agree whether to pay interest and the date of repayment; Debtor's signature confirmation and date of signature.

Legal basis: contract law

Article 8? A contract legally established in accordance with the principle of performing obligations under a contract is legally binding on the parties. The parties shall perform their obligations as agreed, and shall not alter or terminate the contract without authorization.

Contracts established according to law are protected by law.

Extended data

IOUs generally consist of three parts: title, text and signature.

(1) title

The title of IOU is generally composed of language names, that is, the word "IOU" is written in large font at the top and middle of the text. Some people write the words "temporarily owed" or "now owed" in this position as the title, but the text of this title is written in the top box of the next line.

(2) Text

The subject of the IOU should write down what the person or unit owes, what it owes and how much it owes, and indicate the repayment date.

(3) Signature

Signature should be accompanied by the name of the owed unit and the personal signature of the handler, and the personal name of the owed party should be attached to the debit note issued by the individual. Meanwhile, the date of signing the debt. Units should build official seals and individuals should build private seals.

Baidu encyclopedia-IOUs