An IOU (abbreviated from the phrase "I owe you") 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.
Posts about Iou
  • Facebook Adds Polls, Payments Chat Assist Function to Messenger

    … function for payments, saying that it uses machine learning to search for phrases such as, “IOU,” “You owe me” and “Send me,” after which it triggers the app to include a payment button below the message thread, which users can opt to click and send money by entering debit card information or using cards that have previously been linked to Messenger…

    David Cohen/ AllFacebookin Social Facebook- 7 readers -