iou

/'aiou'ju:/

Thân thiện

A student writes an IOU to a friend for a small loan.

Definition

1. Noun:
   • An informal written acknowledgment of a debt: An "IOU" is a simple, informal document that states one person owes a specific sum of money or a specific item to another person. It serves as a basic record of the debt.

Usage

• An IOU is not a formal legal contract like a promissory note, but it is evidence of an agreement to repay.
• It is commonly used between friends, family members, or acquaintances for small, personal loans.
• The standard format includes the phrase "I O U" (an abbreviation for "I owe you"), the amount or item owed, the date, and the debtor's signature.

Examples

• Noun:
  • He wrote me an IOU for twenty dollars after I paid for his lunch.
  • I found an old IOU in the drawer, promising to return a borrowed book.
  • As a temporary solution, she gave her roommate an IOU for her share of the rent.

Advanced Usage

• "To hold an IOU": To be in possession of a written acknowledgment that someone owes you money or a favor.
  • The company holds several IOUs from clients who haven't settled their accounts.
• In financial contexts: While informal, an IOU can be considered a basic financial instrument representing a receivable.

Variants and Related Words

• Debt acknowledgment (n): A more formal term for a written recognition of owing money.
• Promissory note (n): A more formal, legally binding written promise to pay a specified sum at a definite time or on demand.

Synonyms

• Debt note: A written record of a debt.
• Due bill: A statement of money owed, often used in specific industries.

Related Phrases

• "To issue an IOU": To give someone a written note acknowledging a debt.
  • The vendor issued an IOU when he couldn't provide change.
• "To redeem an IOU": To pay back the debt recorded in an IOU.
  • He finally redeemed the IOU he had given me five years ago.

Học thuật

Noun

1. an informal debt instrument; representing `I owe you'

Từ đồng nghĩa

• iou