The functions and differences of IOUs, IOUs and receipts are as follows: A loan contract is a contract in which a borrower borrows money from a lender, repays the loan at maturity and pays interest. An iou is a loan certificate, which proves the contractual relationship between the two parties. An IOU proves the relationship of debt, and an IOU proves the relationship of loan. A loan is definitely a debt, but a debt is not necessarily a loan. An iou is a certificate issued by the debtor to the creditor after the transaction to prove the fact of its arrears and the obligation of repayment due. This is a solution to the past economic exchanges between the two sides. Business relationship, labor relationship, enterprise contract relationship, damages, etc. There may be IOUs, which are only used when borrowing money. An iou is a legal document that proves the fact that debts have occurred due to all economic relations, and its scope is far greater than that of an iou. An iou is only a document that proves the relationship between borrowing and lending. Receipt is the receipt of the other party's property, which can not prove the relationship between creditor's rights and debts, but can prove the settlement of debts, and can resist IOUs and IOUs.

legal ground

Article 667 of the Civil Code, which came into force according to 202 1 1.

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

Article 668 of the Civil Code

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.