Legal analysis: First of all, if you borrow money, you should write IOUs instead of IOUs. The two are different. The basic contents of IOUs include: creditor's name, loan amount (local and foreign currency), interest calculation, repayment time, liquidated damages (delayed repayment), dispute resolution method, debtor's name, loan date and other elements. As long as it has the name of the creditor, the loan amount, the name of the debtor and the loan date, but it meets the main conditions of the loan, it has legal effect. Once a dispute occurs, it can be used as evidence to claim creditor's rights to the people's court, and the people's court will accept it.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 667 A loan contract is a contract in which the borrower borrows money from the lender, repays it at maturity and pays interest.

Article 668 A loan contract shall be in written form, unless otherwise agreed between natural persons.

The contents of a loan contract generally include terms such as loan type, currency, purpose, amount, interest rate, term and repayment method.

Article 669 When concluding a loan contract, the borrower shall provide the true information about the business activities and financial status related to the loan according to the requirements of the lender.