IOU
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(ī'ō-yū') 
n.
A promise to pay a debt, especially a signed paper stating the specific amount owed and often bearing the letters IOU.
n.
A promise to pay a debt, especially a signed paper stating the specific amount owed and often bearing the letters IOU.
[From the pronunciation of .]
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A signed document that recognizes a debt and agrees on payment, often in the form “IOU (phonetic abbreviation of ‘I owe you’) $ x.”
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Abbreviation for “I owe you.” An IOU is a written statement of a borrower's obligation to pay a debt.
An abbreviation of the phrase "I owe you."
Investopedia Says:
An IOU in the business community is actually a legally binding agreement between a borrower and a lender. The terms of the loan are set out in a contract, and, once it's signed, the two parties must abide by the terms of the contract or face legal repercussions. For example, when a corporation issues bonds, it is in essence issuing an IOU to bondholders. The IOU or bond contract sets out the terms, including the principal that will be owed, the interest that will be paid, and the time at which these payments will occur.
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categories related to 'IOU'
- Commerce and Trade - IOU: informal written memorandum of indebtedness
- Banking and Financial Services - IOU: informal promissory note; written acknowledgment of indebtedness
- Abbreviations - IOU: I owe you
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This article is about the acknowledgement of debt. For other uses, see IOU (disambiguation).
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This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (January 2009) |
An IOU (abbreviated from the phrase "I owe you")[1][2] is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment. IOUs usually specify the debtor, the amount owed, and sometimes the creditor. IOUs may be signed or carry distinguishing marks or designs to ensure authenticity. In some cases, IOUs may be redeemable for a specific product or service rather than a quantity of currency.[3]
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California Registered Warrants
Also referred to as "IOUs" by the U.S. state of California, the term "Registered Warrants", which specify a future payment date, is meant to differentiate these IOUs from regular, or “normal” payroll warrants which permit the holder to exchange their warrant for cash immediately. For both types of warrants, redeeming them may be delayed until funds are available. Because of this uncertainty, warrants are not negotiable instruments. Registered Warrants were issued in July 2009 due to a temporary inability of the state of California to meet its financial obligations. Warrants are issued as payment to state employees, private businesses, local governments, taxpayers receiving income tax refunds, and owners of unclaimed money.[4]
In culture
- IOU: The Debt Threat and Why We Must Defuse It is a book by leading economist Noreena Hertz.
- Guitarist Allan Holdsworth's first studio album was entitled I.O.U.
- "I.O.U." is a chart-topping song by Freeez.
- The Kingdom of Lovely, an Internet-based micronation, uses the "Interdependent Occupational Unit" (abbreviated as IOU) as its currency.
- I.O.U.S.A. is a documentary film about the US national debt.
- In the film Saturday Night Fever, Tony Manero asks Annette if she has an "IOU", but means IUD (intrauterine device).
- "IOU" is a song by the Canadian rock band Metric.
- In the song "Lavender" from Marillion's album Misplaced Childhood, Fish sings "I.O.U. for your love" (written this way in the booklet)
- In the song "Back & Forth" from Foo Fighters' album Wasting Light, Dave Grohl sings "I'm taking it back, all my IOUs", referencing back to a 2009 Foo Fighters song, "Word Forward", featured on the band's Greatest Hits compilation.
- In 2012, episode three of BBC Sherlock, 'The Reichenbach Fall', James Moriarty uses the motif "IOU" as an ambiguous message towards the show's main character Sherlock Holmes.
- The climax of the movie "Dumb and dumber" (1994) ends with Lloyd (Jim Carrey) returning a suitcase full of I.O.U's in place of 1 million dollars in cash.
See also
References
- ^ "I O U". Oxford English Dictionary (2nd ed.). 1989. http://dictionary.oed.com/cgi/entry/50120934. "Etymology: [= ‘I owe you’.]"
- ^ . http://www.merriam-webster.com/dictionary/iou. "Origin of IOU from the pronunciation of I owe you - First Known Use: 1795.]"
- ^ "[1F04] Treehouse of Horror IV". The Simpsons Archive. December 19, 1999. http://www.snpp.com/episodes/1F04.html. Retrieved 2010-05-28. "I. O. U. one emergency donut"
- ^ Frequently Asked Questions about Registered Warrants (IOUs)
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Translations:
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Iou
Dansk (Danish)
n. - gældsbrev, lånebevis, Jeg skylder dig
Nederlands (Dutch)
promesse, schuldbriefje
Français (French)
n. - (abrév = I owe you) reconnaissance de dette
Deutsch (German)
n. - Schuldschein
Ελληνική (Greek)
abbr., -
n. - απόδειξη οφειλής (με ημερομηνία και υπογραφή του οφειλέτη), υποσχετικό
Italiano (Italian)
pagherò (obbligazione di debito)
Português (Portuguese)
abbr. - nota (f) de débito
Русский (Russian)
долговая расписка
Español (Spanish)
n. - pagaré, vale
Svenska (Swedish)
abbr. - I owe you
n. - skuldsedel, enkel revers, löfte
中文（简体）(Chinese (Simplified))
借条
中文（繁體）(Chinese (Traditional))
n. - 借條
한국어 (Korean)
n. - 약식 차용 증서(I owe you)
العربيه (Arabic)
(الاسم) إنني مدين لك ( اختصار عبارة)I owe you
עברית (Hebrew)
n. - פתק אני חייב לך, שטר חוב
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Mentioned in
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