The difference between an IOU, what is the difference between a loan and an IOU

When lending money to a friend, what kind of documents should he produce? There are three most common types in life: IOUs, receipts, and IOUs.

Although there is only a one-word difference, there is a big difference in their legal meaning. Although the name is not the only decisive factor in determining the legal relationship, it undoubtedly has a great influence on the judge's judgment.

IOUs and IOUs are both proofs of creditor-debtor relationships, while receipts not only prove the existence of creditor-debtor relationships, but also serve as proof of equity relationships or contract performance. For example, the company receives the certificate issued by the shareholder when it receives the capital contribution; The latter is such as the voucher issued by the seller when the payment is received. In both cases, the party holding the receipt is not entitled to demand payment of the amount under the receipt.

If the party holding the receipt requires the party issuing the receipt to pay off the money under the receipt, it must prove that the receipt it holds represents a creditor's right relationship, not an equity relationship or proof of contract performance. And to do this, it's usually not enough to just show a receipt. If the holder of the receipt is unable to produce other evidence, it inevitably faces the risk of losing the case.

Although IOUs and IOUs are both proofs of the creditor-debtor relationship, there are differences between them.

Two common formats:

1) IOUs. Borrow 1 million yuan from Zhang San today.

Borrower: Li Si.

25 June 2009.

2) IOUs.

Today, Zhang San owes 1 million yuan.

Debtor: Li Si.

25 June 2009.

For (1) it is applicable to simple borrowing, and for (2) it is applicable to arrears caused by something, such as not giving money after delivery, losing money after gambling, not bringing money after meals, etc. In a legal sense, case (1), i.e., an IOU, does not need to be supported by other evidence; However, in the case (2), unexpected situations are likely to occur, and there is generally a question of why, why, and how to owe money, which may not be very big, but sometimes it is more troublesome, and even worse, it is in vain. The legal lending relationship is protected by the law, but for example, the IOU made after gambling money is lost, after the trouble goes to the court, even the IOU is in vain, because the law does not protect illegal things, gambling is illegal, and the resulting IOU is an illegal debt and is not protected by the law.

The IOU indicates the reason for the formation of the creditor's relationship, that is, because of the loan; IOUs, on the other hand, cannot literally indicate the reasons for the formation of the creditor's relationship. There are many reasons for the formation of creditor's rights, and lending is only one of them. Whether or not the cause of the formation of the creditor's right relationship can be preliminarily determined has the greatest impact on the parties is the calculation of the statute of limitations.

If it is stated that it is an IOU and the loan relationship is established, the applicable statute of limitations is two years; If it is stated that it is an IOU, it should be subject to the statute of limitations of several years, and the statute of limitations shall be determined according to the reason for the formation of the IOU. There are four types of statutes of limitations stipulated in Chinese law according to time: one-year, two-year, three-year and four-year statute of limitations.

Therefore, when you lend money to a friend, you should ask him to issue an IOU, not an IOU and a receipt.

Teach you the difference between an IOU and an IOU.

What is the difference between an IOU and an IOU?

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.

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.

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.

What is the difference between an IOU and an IOU?

What is the difference between an IOU and an IOU.

Borrowing and IOUs differ as follows:

First, the reasons are different.

Borrowing is mainly caused by borrowing, which may be caused by buying, selling, leasing, borrowing, contracting, transportation, damages, etc. The IOU proves the borrowing relationship, and the loan must be in arrears, but the arrears are not necessarily loans.

2. The statute of limitations is different.

If the loan indicates the date of repayment, the statute of limitations shall be calculated for three years from the day after the date of repayment, and if the date of repayment is not indicated, the statute of limitations shall be calculated for three years from the day after the lender asserts its rights. If the IOU has a repayment date, it shall be counted for three years from the date of expiration of the repayment date, and if there is no repayment date, it shall be counted for three years from the date of issuance of the IOU.

3. The difficulty of adducing evidence is different.

When the holder of an IOU sues the court on the basis of the IOU, it is easier for the IOU itself to identify and identify the fact of the loan that exists between the parties. However, after the debtor holder files a lawsuit with the court on the basis of the debt, the debtor holder must state the facts of the formation of the debt to the judge, and if the other party denies or defends, the debtor holder must further prove the fact of the formation of the debt.

Legal Analysis: There is a difference between borrowing and borrowing. There will be completely different consequences for the legal status of the parties to the creditor-debtor relationship.

Borrowing today means that you have already got the loan, and borrowing today is preparing to borrow, not necessarily getting the loan. The nature of IOUs and IOUs is different, and the reasons for their formation are different, borrowing is mainly due to borrowing, while arrears may be due to sales, leases, interest, etc. If there is no agreed repayment period in the IOU, the statute of limitations shall be calculated from the date on which the arrears are formed, and if the repayment period is agreed, it shall be calculated from the expiration of the repayment period.

In other words, the statute of limitations is the same for IOUs and IOUs that have agreed on the repayment period, and there is a difference between IOUs and IOUs without an agreed repayment period. For IOUs without a repayment period, the lender can request repayment from the borrower at any time, and the statute of limitations starts from the time when the right holder asserts its rights, and the validity of the IOU can be up to 20 years. The right holder shall claim its rights with the people's court within three 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.

If there is no agreed repayment date, then the creditor can claim it at any time, and the limitation period shall run from the time when the debtor refuses to repay, and the maximum limitation period shall not exceed 20 years, and if the repayment period is agreed, the limitation period shall start to run from the expiration of the repayment period.

Legal basis: Article 668 of the Civil Code of the People's Republic of China The loan contract shall be in written form, unless otherwise agreed upon in the loan between natural persons.

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

Legal analysis: 1. The reasons are different; IOUs are generally generated by private lending, and the reasons for IOUs are more widespread; 2. If a dispute arises, the content of the court trial is different. IOUs, the court only examines whether the creditor-debtor relationship violates the provisions of usury, and the IOU has more content; 3. The starting point of the statute of limitations is different.

Legal basis: Article 667 of the Civil Code of the People's Republic of China is a contract in which the borrower borrows money from the lender and returns the loan at maturity and pays interest.

There is not much difference between an IOU and an IOU, both of which are credit documents that indicate the existence of a legal relationship between the borrower and the borrower. However, IOUs are relatively more formal, and are vouchers written by individuals or units when borrowing cash and property from individuals or public households, while IOUs are more widely used in private lending.

[Legal basis].Article 2 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases.

When a lender initiates a private lending lawsuit with a people's court, it shall provide proof of creditor's rights such as IOUs, receipts, and IOUs, as well as other evidence that can prove the existence of a legal relationship between the lenders.

Where the creditor's rights vouchers such as IOUs, receipts, and IOUs held by the parties do not indicate the creditor, and the parties holding the creditor's rights vouchers file a private lending lawsuit, the people's court shall accept it. If the defendant raises a factual defense against the plaintiff's creditor qualifications, and the people's court finds that the plaintiff does not have the creditor qualifications after examination, it rules to dismiss the lawsuit with caution.

Article 63 of the Civil Procedure Law of the People's Republic of China.

Evidence includes: 1) statements by the parties;

2) documentary evidence; 3) physical evidence;

4) audio-visual materials;

Five filial piety tones) electronic data;

6) witness testimony;

7) Appraisal opinions;

8) Inquest records.

Evidence must be verified to be true before it can be used as a basis for determining facts.

Article 64.

It is the responsibility of the parties to provide evidence for their own claims.