The difference between an IOU and an IOU

According to the laws of our country, if the IOU does not contain a repayment period, the statute of limitations is three years. Under the same conditions, the maximum time limit for an IOU is 20 years. At the same time, the statute of limitations can also be interrupted and extended.

IOUs and IOUs are both creditor's rights certificates, and their legal effect is not high or low, but the facts cannot be confused.

Teach you the difference between an IOU and an IOU.

IOUs and IOUs are both certificates of creditor's rights, and their legal effect is not high or low, but the meaning they represent in law is actually different, and the writing specifications are also different.

The IOU proves the borrowing relationship, and the reason for the formation of the IOU is a specific borrowing fact; IOUs prove the relationship of arrears, and there are many reasons for the formation of IOUs, which can be based on a variety of facts, such as arrears arising from sales, leases, labor services, enterprise contracting, damages, etc. A loan is certainly an arrears, but an arrears is not necessarily a loan.

The statute of limitations for IOUs is three years, but the maximum statute of limitations for IOUs can be up to 20 years.

When the holder of the IOU files a lawsuit with the court on the basis of the IOU, since it is easier to identify and determine the facts of the loan between the parties through the IOU itself, the holder of the IOU generally only needs to briefly state the facts of the loan to the judge, and it is generally difficult for the other party to defend or deny it. However, when the holder of the IOU files a lawsuit with the court on the basis of the IOU, the holder of the IOU must state to the judge the facts formed by the IOU, and if the other party denies or defends this fact, the holder of the IOU must also provide further evidence, that is, the burden of proof on the holder of the IOU is greater than that of the holder of the IOU.

Legal basis] Article 188 of the General Provisions of the Civil Law of the People's Republic of China stipulates that the statute of limitations for filing a request to the people's court for protection of civil rights is three years. Where the law provides otherwise, follow those provisions.

The limitation period is calculated from the date on which the right holder knows or should know that the right has been damaged and the obligor. Where the law provides otherwise, follow those provisions. However, where more than 20 years have elapsed since the date on which the rights were infringed, the people's courts will not protect them; Where there are special circumstances, the people's court may decide to extend the extension on the basis of the right holder's application.

Although there is only one word difference between an IOU and an IOU, in fact there is a big difference, and their legal statute of limitations is very different.

Difference Between IOU and IOU:1The reasons for this are different.

IOUs are generally generated by private lending, and IOUs are produced for a wider range of reasons. 2.If a dispute arises, the court will hear it differently.

An IOU refers to a loan relationship, and an IOU refers to a debt relationship, such as an arrears formed by remuneration for providing services.

There is usually a flow of money or physical goods behind an IOU, but not an IOU. IOUs generally have a loan period and interest, while IOUs can also stipulate the repayment period and the legal consequences of overdue repayment. The statute of limitations for IOUs is 3 years, and if a lawsuit is not filed with the court for more than 3 years, the court will no longer protect it.

What is the difference between an IOU and an IOU?

What is the difference between an IOU and an IOU.

What is the difference between an IOU and an IOU?

Legal analysis: IOUs are generally reflected in the legal loan contract relationship, and IOUs are the vouchers of the loan contract; The IOU is often a settlement between the parties, which is a relatively pure creditor-debtor relationship.

The statute of limitations for IOUs and IOUs that do not specify a specific repayment period is different: for IOUs without a repayment period, the creditor can also demand repayment from the debtor at any time; For an IOU without a repayment period, when the debtor issues an IOU, the creditor should claim rights with the people's court within 3 years from the date of issuance of the IOU, that is to say, the statute of limitations for IOUs without a performance period shall be calculated from the date of issuance.

The burden of proof is different: the holder of the IOU generally only needs to briefly state the facts of the loan to the judge; The holder of the IOU must state to the judge the facts of the formation of the IOU. If the other party denies it, the holder of the IOU must provide further evidence to prove the fact that the IOU was formed.

The difference between an IOU and a hidden grandson note:

1. The IOU proves the borrowing relationship, and the IOU proves the arrears relationship. A loan is certainly an arrears, but an arrears is not necessarily a loan.

2. The reason for the formation of the IOU is a specific borrowing fact. There are many reasons for the formation of IOUs, which can be based on a variety of facts, such as buying and selling.

3. When the holder of the IOU files a lawsuit with the court by virtue of the IOU, the holder of the IOU and the accompanying note generally only needs to briefly state the facts of the loan to the judge. However, when the holder of the IOU files a lawsuit with the court on the basis of the IOU, he must also state the facts formed by the IOU to the judge, and if the other party denies or defends this fact, the holder of the IOU must provide further evidence to prove the facts of the formation of the IOU.

[Legal basis].

In accordance with Article 667 of the Civil Code, which entered into force on January 1, 2021.

A loan contract is a contract in which the borrower borrows money from the lender and returns the loan at maturity with interest.

Article 668 of the Civil Code.

The loan contract shall be in written form, unless otherwise agreed upon between natural persons.

The content of the loan contract generally includes the type of loan, currency, purpose, amount, interest rate, term and repayment method.

The above is only the current information combined with my understanding of the law, please refer to it carefully!

If you still have questions about this issue, it is recommended that you organize the relevant information and communicate with a professional in detail.

An IOU is a relatively simple voucher that records basic information such as the amount of money borrowed, the borrower, and the date of the loan. The advantage is that it is concise and direct, suitable for the lending relationship between some relatives and friends, and can clarify the borrowing matters agreed by both parties.

An IOU is more formal and rigorous than an IOU, and contains more detailed terms and conditions of the loan. It usually records supplementary terms such as repayment dates, interest, late penalties, etc. IOUs are more suitable for commercial and large-value transactions, providing more protection and evidence at the legal level.

When signing, be sure to use formal templates, which can be found on the Internet or on some platforms such as the "IOU".

1. The legal relationship of the representatives is differentIOU: An IOU is only a settlement between the parties.

IOU: An IOU is actually a voucher for a loan contract.

2. The reasons are differentIOUs: IOUs are generally generated based on the fact of borrowing.

IOUs: IOUs can be the result of a variety of legal relationships, such as sales, services, etc.

3. The legal consequences are differentIOUs: The statute of limitations for IOUs and IOUs that do not specify a repayment period is different: for IOUs without a repayment period, the creditor can also demand repayment from the debtor at any time.

IOU: For an IOU without a repayment period, if the debtor issues the IOU, the creditor shall claim its rights against the people's court within 3 years from the date of issuance of the IOU, that is, the statute of limitations shall be calculated from the date of issuance of the IOU if the IOU has not been performed.

1. The legal relationship of the representatives is differentAn IOU is only a kind of settlement between the parties, which can express the creditor-debtor relationship between the creditor and the debtor, not necessarily the loan relationship, indicating that the creditor and the debtor have a creditor-debtor relationship before or at the time of the issuance of the IOU. The IOU is actually a kind of certificate of the loan contract, or a simplified loan contract, indicating that the relationship between the creditor and the debtor is a loan relationship, and the debt of the loan is generated.

2. The use of the situation is different. "IOU" is a written voucher issued by the party payable to the party of the receivable at the time of settlement, when the two parties have business dealings, but the relevant accounts have not yet been settled. On the other hand, "IOUs" are generally used when borrowing money from natural persons or enterprises.

3. The reasons are different. An IOU can be a debt of loan, tort or contract. An IOU, on the other hand, is generally generated by a borrowed debt.

4. The burden of proof is different. If the holder of the IOU sues the court, the burden of proof is greater than that of the holder of the IOU. The holder of the IOU must first tell the court the facts formed by Sun He's imitation of the IOU, and if the other party recognizes or does not deny it, then the probative force of the IOU is sufficient.

If the other party denies the fact that the IOU was formed, then the plaintiff needs to provide further evidence to substantiate the fact that the IOU was formed as stated by the plaintiff. However, if the holder of the IOU sues, there is no need to do so, regardless of whether the other party admits it or not, it only needs to state the facts formed by the IOU to the court.

5. The statute of limitations is different. For IOUs without an agreed repayment period and IOUs without an agreed repayment period, the creditor can claim rights against the debtor at any time, and the statute of limitations is calculated from the date on which the creditor claims the rights against the debtor, and the statute of limitations is three years. If the debtor claims the right again within three years from the date of the claim, the statute of limitations will start running again from the date of the second claim.

However, the maximum statute of limitations for IOUs without an agreed repayment period is only three years, that is, if the creditor has not claimed its rights against the debtor within three years from the date of issuance of the IOU, it will lose its right to win the lawsuit after three years. For IOUs without an agreed repayment period, the creditor will not claim the right within 20 years of the IOU issued, and if it exceeds 20 years, it will lose the right to prevail. The applicable scenarios of IOUs and IOUs are different, generally speaking, write IOUs when borrowing money, and write IOUs when owing.

If it is accidentally misused, as long as it can be proved that one party does owe money to the other party, then if the party who owes the money does not pay the money, he can also sue the court with an IOU or IOU.