An iou with its own signature may request the people's court or an arbitration institution to consider it invalid. If it does not affect the validity of other parts, it is still valid. The previous performance shall be recognized, and the property obtained from the invalid behavior shall be returned or compensated at a discount. At the same time, the losses suffered by the other party shall be compensated as appropriate.

legal ground

The effect of false representation and concealment in Article 146 of the Civil Code of People's Republic of China (PRC). A false civil juristic act made by the actor and the counterpart is invalid. The validity of a concealed civil juristic act with false intention shall be handled in accordance with relevant laws and regulations.