The basic contents and precautions of the IOU

The basic contents of the IOU include: the name of the creditor, the amount of the loan (in local and foreign currencies), the calculation of interest, the time of repayment, the penalty for default (delay in repayment), the method of dispute resolution, as well as the name of the debtor, the date of the loan, and other elements. As long as the name of the debtor is present, the borrower.

The basic contents of the IOU include: the name of the creditor, the amount of the loan (in local and foreign currencies), the calculation of interest, the time of repayment, the penalty for default (delay in repayment), the method of dispute resolution, as well as the name of the debtor, the date of the loan, and other elements. As long as the name of the debtor, the amount of the loan, the name of the debtor and the date of the loan (although added later) are present, the main elements of the IOU are met, and therefore it has legal effect.

Once a dispute arises, it can be used as evidence to claim the creditor's rights from the people's court, and the people's court will also accept it.

When writing an IOU, you should pay attention to the borrower, the date of borrowing, the date of repayment, the signature of the borrower, the amount of the loan, the reason for the borrowing, etc., and do not make mistakes.

The precautions for writing an IOU are that the parties to the IOU must have the corresponding civil capacity; The meaning of the IOU should be true and legitimate; and the IOU must have important contents such as the amount of the loan, the currency, the repayment period, and the method.

[Legal basis].Article 143 of the Civil Code.

Civil juristic acts that meet the following conditions are valid:

1) The actor has the corresponding capacity for civil conduct;

2) The meaning is genuine;

3) Do not violate the mandatory provisions of laws and administrative regulations, and do not violate public order and good customs.

Article 470.

The content of the contract is agreed upon by the parties and generally includes the following clauses:

1) The names and addresses of the parties;

b) the subject matter; iii) quantity;

iv) Quality; 5) Price or remuneration;

6) the period, place and method of performance;

7) Liability for breach of contract;

8) Methods of Dispute Resolution.

The parties may conclude a contract with reference to the model texts of various types of contracts.

Article 490.

If the parties conclude a contract in the form of a written contract, the contract shall be formed when both parties sign, affix their seals or press their fingerprints. The contract is formed when one of the parties has fulfilled its primary obligations and the other party has accepted it before signing, stamping or fingerprinting.

Legal analysis: Pay attention to the use of words to be accurate and accurate, do not use ambiguous and ambiguous words, clearly agree on the repayment time, agree on the interest, but pay attention to the interest rate shall not exceed 4 times the interest rate of the financial institution for the same period and the same grade announced by the People's Bank of China, and write the borrower accurately.

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.

Note on IOUs:

1. Write down the reason for the loan, and the purpose of the loan must be indicated on the IOU;

2. The loan contract shall stipulate that the place of performance of the contract shall be the permanent residence of the creditor;

3. The actual payment method and payment of funds must be indicated;

4. It is best to let the borrower write all the contents of the IOU by hand;

5. Know and clarify the debtor's permanent address of Kongzhaohuai.

[Legal basis].Article 667 of the Civil Code, which came into effect on January 1, 2021, is a contract in which the borrower borrows money from the lender and returns the loan and pays interest when due.

Article 668.

The loan contract shall be in written form, except where there is another agreement between natural persons on the loan.

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