In everyday life, people are often faced with borrowing and borrowing relationships. In order to ensure the rights and interests of both parties, the debt relationship between the two parties is usually clarified by writing an IOU or IOU. Although both IOUs and IOUs have legal effect, there are certain differences between them. This article will introduce the difference between IOUs and IOUs in detail to help you deal with debt more carefully in your daily borrowing.
1.The meaning is different.
An IOU is a kind of certificate that borrows money or goods from others, which indicates the lending relationship between the creditor and the debtor. In an IOU, the borrower is the debtor and the lender is the creditor. An IOU usually contains basic information such as the amount borrowed, the interest rate, the repayment period, etc.
An IOU refers to a debt relationship between two parties that arises for various reasons, such as sales, services, damages, etc. An IOU does not necessarily involve a borrowing relationship, it can be a debt arising for any reason. In an IOU, the debtor is the debtor and the debtor is the creditor. An IOU usually contains basic information such as the amount owed and the repayment period.
2.The legal effect is different.
Both IOUs and IOUs have legal effect, but IOUs have stronger legal effect. This is because the IOU itself is a direct reflection of the borrowing and lending relationship, while an IOU can involve multiple debt relationships. In the event of a dispute, the IOU is stronger and easier to obtain legal support.
3.The term of protection varies.
The legal protection period for IOUs is 20 years, while the legal protection period for IOUs is 3 years. This means that IOUs are legally valid for 20 years, while IOUs are only valid for 3 years. If the protection period is exceeded, the creditor will lose the right to prevail and it will be difficult to recover the arrears.
4.The content of the writing is different.
IOUs and IOUs are written differently. The IOU should include information such as the borrower, lender, loan amount, interest rate, repayment period, etc.;The IOU should include information such as the debtor, the person who is owed, the amount owed, and the repayment period. In addition, both IOUs and IOUs need to be signed and stamped by both parties and the date of writing.
Both IOUs and IOUs are important documents for debt relationships, but there are certain differences between them. The IOU directly reflects the lending relationship, has stronger legal force, and has a protection period of 20 years;The IOU involves a variety of debt relationships, the legal effect is relatively weak, and the protection period is 3 years. In daily lending, it is necessary to clearly distinguish between IOUs and IOUs, and choose appropriate certificates according to the actual situation to ensure the rights and interests of both parties.