| Share
 

I.O.U

The memorandum of a debt given by the borrower to the lender. It must not contain a promise to pay. The letters mean, “I owe You.”

An I.O.U. requires no stamp, unless it specifies a day of payment, when it becomes a bill, and must have a stamp.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

More on I O U from Infoplease:

Related Content


24 X 7

Private Tutor

Click Here for Details
24 x 7 Tutor Availability
Unlimited Online Tutoring
1-on-1 Tutoring