How to make a legal IOU and what kind of IOU is valid

There are many ways to write this according to your specific situation, but I will try to write an example first (the writing instructions in parentheses below are the instructions, not the components of the IOU):

IOU (centered).

Creditor: Xiao Wang.

Debtor: Xiao Zhang.

On 12 April 2008 (do not use Arabic numerals, the same below), Xiao Cheung borrowed RMB 10,000 from Xiao Wang, and received it in cash, as evidenced by this IOU. The agreed repayment date is a certain year, a certain month, and a certain day.

Witnesses (if any):

Signature of the witness:

Signature of both parties: Date: 12 April 2008.

Receipt (centered).

Payer (debtor): Xiao Zhang.

Beneficiary (creditor): Xiao Wang.

Since Xiao Zhang had borrowed RMB 10,000 from Xiao Wang on April 12, 2008, Xiao Zhang had paid off Xiao Wang's RMB 10,000 and received the cash as evidence. Xiao Zhang still owes the balance and Wu Qianyuan has not been repaid.

Witnesses (if any):

Signature of the witness:

Signature of both parties: Date: 20 May 2008.

The above is just an example, if necessary, the method of payment (cash or bank transfer), the purpose of the loan, the agreed interest (if any), and the liability for default such as late repayment. In addition, if you need to notarize the IOU, you can go to the local notary office to notarize it.

In the future, if the borrower fails to repay, the creditor can apply directly to the court for a payment order.

In fact, it doesn't matter what the content is, as long as the amount is clearly written, if it is a natural person, it is best to sign it yourself, if it is a company, it must be stamped with an official seal, and there is a person who handles this loan to sign.

It is better to apply for a payment order if the IOU is fair. Of course, it's okay to have no witnesses.

There is no minimum amount to apply for a payment order, and the general fee is one-third of the legal costs. Bring a copy of your ID, power of attorney, and application. Got it, if you don't understand, you can send me a letter.

The basic elements that a legally valid IOU needs to have: 1The borrower's name, ID number, residential address.

The borrower is an individual and must sign in person, and the legal validity of an IOU signed by someone else will be disputed. 2.Lender's Name:

It is required to write the full name, not the code name, so as not to hinder the claim of creditor's rights. 3.Write down the amount borrowed:

It is best to write the currency of the amount, such as how many yuan is RMB, and write it separately in the form of uppercase and lowercase, so as to avoid disputes where the handwriting is not clear and the amount cannot be seen clearly, but be sure to check the consistency of uppercase and lowercase. 4.Repayment Period:

There are pros and cons to the agreement on the repayment period. 1) Specify the term of interest: The creditor should ask the debtor to repay the loan, especially a reason for receiving the loan between friends.

Disadvantages: Creditors must pay attention to the statute of limitations, calculated from the date of expiration of the repayment period noted on the IOU, within 2 years, the creditor must bend the creditor's right (sign the collection letter or file a lawsuit with the people's court), otherwise the creditor will exceed the statute of limitations after the expiration of the creditor's right for 2 years, and it will be difficult to win the lawsuit even if it sues. 2) Do not write the repayment period Profit:

Repayment can be requested at any time without the 2-year statute of limitations. Disadvantages: It is not easy for friends to urge repayment.

5.Interest: If there is an agreed interest rate for private loans, it shall be performed in accordance with the agreement between the two parties, and if there is no agreement on the interest rate, it shall be regarded as an interest-free loan.

Before the date on which the creditor claims repayment and pays interest, the people's court generally does not support the interest on this period of normal loan term. 6.Repayment Method:

Whether it is a one-time repayment of principal and interest, or a repayment of principal and interest in installments, and what period to repay and how much, need to be clarified. 7.Sign-off:

Signature of the borrower, full date, preferably with a fingerprint. That's what kind of IOU is valid.

Legal analysis: If the IOU is relatively detailed and signed under the condition that the parties are intellectually normal and sane, the legal effect is equivalent to the loan contract. Legally binding.

As long as it is signed by both parties (preferably the content is also written by the borrower), and the content does not violate the law (such as shouting for loan interest), it is legally valid. Note that the basic interior should be clear. When it comes to legal issues, prevention comes first and remedy comes second.

In addition to writing the IOU, pay attention to the borrower, the date of borrowing, the date of repayment, the signature of the borrower, the amount of borrowing, the reason for borrowing, etc., capitalize the number, and do not make mistakes.

Legal basis: Article 256 of the Civil Code of the People's Republic of China An invalid contract or a contract that has been revoked shall not be legally binding from the beginning. If part of the contract is invalid and does not affect the validity of the other parts, the other parts shall remain valid.

Legal effect of IOU: An IOU can be used to prove the existence of a loan relationship between two parties, and is a kind of credit certificate. The borrower on the IOU has the obligation to repay the debt when due, and the lender on the IOU has the obligation to lend and the right to recover the money.

To be valid, an IOU must be signed by a party with civil capacity for civil conduct under the condition that the expression of intent is true and there are no violations of laws and regulations. Article 668 of the Civil Code, which was copied on January 1, 2021, stipulates that 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.

Article 668 of the Civil Code: Loan contracts shall be in written form, except where there is a separate agreement between natural persons on the loan of filial piety. The content of the loan contract generally includes the type of loan, currency, purpose, amount, interest rate, term and repayment method.

Legal Analysis: The role of an IOU is a document that proves the debt relationship between the two parties. The private IOU shall first indicate the names of the parties to the borrower and other specific information; secondly, the amount, term and interest of the loan, the time and method of repayment, etc., the agreement on interest and the liability for breach of contract; Finally, both parties sign and indicate the time.

Legal basis: Article 2 of the Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases When the lender files a lawsuit with the people's court, the lender shall provide proof of creditor's rights such as IOUs, receipts, and IOUs, as well as other evidence that can prove the existence of the legal relationship between the lender and the lender.

The role of an IOU is that it can be used to prove the existence of a legal relationship between the borrower and the borrower. The personal IOU should state the name, address and other identity information of the borrower and the lender; the type of borrowing; Currency; the purpose of the borrowing; amount and interest rate, term; and the method, time, and place of repayment.

1. Does the loan IOU have legal effect?

If the IOU specifies the type, currency, purpose, amount, interest rate, term and repayment party, etc., and is voluntarily signed by both parties, the IOU has legal effect. When entering into a loan IOU, the borrower shall, as required by the lender, provide the true information about the business activities and financial status related to the loan.

2. How to write the IOU to have legal effect.

A legally binding IOU should have the following contents: specify the borrower and the full legal name of the borrower; The loan amount, both uppercase and lowercase; Clearly state the term of the loan, including the start and end dates of the loan and the term of the loan; The interest on the loan, which should have a clear annual or monthly interest rate, and the total amount of interest payable on the loan; The date, date and method of repayment of the principal and interest of the loan should be clarified; The borrower shall personally sign, handprint or written signature. When writing an IOU, pay attention to the following questions:

It is necessary to find out the real names of the borrower and the lender, and find out the borrower's work, address, and even personal information such as income and property. The borrower personally signs his or her real name in the lower right corner of the IOU. A signature is equivalent to confirming what is stated on the IOU.

If there is no signature, it means there is no confirmation. If the borrower does not recognize it afterwards, if there is no signature or signature, it is likely that it will not be supported by the court; It is best to agree on matters such as interest, repayment period, repayment method, etc.; The IOU must be able to clearly describe the fact of borrowing.

Article 143 of the Civil Code.

Civil juristic acts that meet the following conditions are valid:

1) The perpetrator 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 667.

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.

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.

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.