IOU

American  

Or I.O.U.

1. a written acknowledgment of a debt, especially an informal one consisting only of the letters IOU, the sum owed, and the debtor's signature.

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IOU British  

noun

1. a written promise or reminder to pay a debt

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IOU Cultural  

1. Abbreviation for “I owe you.” An IOU is a written statement of a borrower's obligation to pay a debt.

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Etymology

Origin of IOU

First recorded in 1610–20; representing I owe you

Example Sentences

Credit is the promise to pay money, an IOU.

From The Wall Street Journal

Should a player lose beyond his ability to pay, the others may allow him time to pay off his loss—usually, time until the next game—and he may offer up an IOU.

From The Wall Street Journal

Governments sell bonds - essentially an IOU - to raise money for public spending and in return they pay interest.

From BBC

The government sell bonds - essentially an IOU - to raise money from financial markets and these are viewed as a safe investment, meaning the US normally does not need to offer high rates to attract buyers.

From BBC

Investors see US Treasury securities as one of the safest possible bets, because the bonds - which are kind of like an IOU - are backed by the US government.

From BBC