Rhode Island IOU
Rhode Island IOU (I Owe You)
I. Acknowledgment of Debt
I, [YOUR NAME], currently residing at [YOUR COMPANY ADDRESS], hereby acknowledge and confess that I am indebted to [CREDITOR NAME] in the sum of [LOAN AMOUNT], which was advanced to me on [LOAN DATE] at [LOAN LOCATION]. This debt arises from [DESCRIPTION OF THE TRANSACTION OR REASON FOR THE DEBT] and is payable as follows: [PAYMENT TERMS].
II. Promise to Pay
As the borrower, I, [YOUR NAME], unconditionally promise to repay this debt according to the terms and conditions set forth herein. I will make payments to [CREDITOR NAME] or his/her designated assignee, without objection or delay.
III. No Waiver
Failure or delay by the creditor in exercising any right, power, or privilege under this IOU shall not operate as a waiver; nor shall any single or partial exercise thereof preclude any other or further exercise thereof.
IV. Legal and Binding Agreement
This IOU serves as a legal and binding agreement between me, [YOUR NAME], representing [YOUR COMPANY NAME], and [CREDITOR NAME]. This agreement shall be governed by and construed in accordance with the laws of the state of Rhode Island.
V. Amendment
This Instrument of Understanding (IOU) can only be altered or changed if a written agreement, which has been correctly executed and signed by all the parties involved, is in place.
VI. Contact Information
Should you need to contact me for any matter regarding this IOU, please use the following information provided below:
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Company Name: [YOUR COMPANY NAME]
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Email: [YOUR COMPANY EMAIL]
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Address: [YOUR COMPANY ADDRESS]
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Phone Number: [YOUR COMPANY NUMBER]
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Website: [YOUR COMPANY WEBSITE]
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Social Media: [YOUR COMPANY SOCIAL MEDIA]
VII. Signatures
This document, signed by both parties, serves as an acknowledgement of all terms and conditions discussed and agreed upon herein.
[YOUR NAME]
Lender
[DATE]
[BORROWER'S NAME]
Borrower
[DATE]
