The correct way to write a personal IOU

An IOU for private lending must be legal and valid as long as it includes the lender, borrower, loan amount, loan time and other main contents.

A standardized IOU should have the following contents:

1. Write clearly the full legal names of the borrower and the lender.

2. Write the loan amount clearly, including the amount in uppercase and lowercase letters.

3. Write down the loan time period clearly, including the start and end date of the loan and the clear loan period.

4. Write clearly the interest on the loan. There should be a clear annual interest rate or monthly interest rate, and the total amount of loan interest that should be paid in the end.

5. The year, month, day, time and method of payment for the repayment of the principal and interest of the loan should be clearly stated.

6. There should be a signature, seal, fingerprint or handwriting of the borrower.

How to deal with borrowing money without issuing an IOU:

Borrowing money without issuing an IOU, the creditor can collect other evidence that can prove the fact of the debt and recover the debt through litigation.

When a lender files a private loan lawsuit in the People's Court, it shall provide IOUs, receipts, IOUs and other evidence of creditor's rights and other evidence that can prove the existence of the legal relationship between the loan and the loan.

To sum up, in daily life we ??also need to understand relevant legal knowledge, so that we can safeguard our legitimate rights and interests.

Legal basis:

"People's Republic of China and Civil Code"

Article 470

Contents of the contract Agreed by the parties, generally including the following terms:

(1) Name and address of the parties;

(2) Subject matter;

(3) Quantity ;

(4) Quality;

(5) Price or remuneration;

(6) Time limit, place and method of performance;

(7) Liability for breach of contract;