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

“Last time I checked, Kroger doesn’t take an IOU,” Jones said.

From The Wall Street Journal

Essentially, you borrow from the account and create an IOU to yourself.

From MarketWatch

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