What Is an IOU? Here's What You Need To Know | GOBankingRates

    2024-07-06 16:42

    What Is an IOU? An IOU, short for "I Owe You," is a document that acknowledges debt. Typically, it's a casual arrangement where one person acknowledges owing money to another. It usually includes the amount owed and the debtor's name, but it might lack specifics like repayment terms and interest rates.

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