Sample IOU Letter
Sample IOU Letter (I OWE YOU)
Date: September 12, 2050
Lender Information:
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Name: Mason Arnold
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Address: 1815 Atha Drive, Los Angeles CA 90017
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Phone Number: 222 843 1011
Borrower Information:
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Name: [YOUR NAME]
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Address: 1827 Harrison Street, San Francisco CA 94107
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Phone Number: 222 555 7777
1. Amount Owed
I, [YOUR NAME], hereby acknowledge that I owe Mason Arnold the sum of $500.00 (Five Hundred Dollars).
2. Reason for Borrowing
This amount was borrowed to cover unexpected expenses and will be repaid in full as agreed upon below.
3. Repayment Terms
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Repayment Date: The full amount of $500.00 will be repaid on or before October 2, 2050.
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Payment Method: The payment will be made via cash or electronic transfer, as agreed with the lender.
4. No Interest or Penalties
No interest will accrue on this amount, and no penalties will be applied if repaid by the agreed-upon date.
5. Signatures
By signing below, both parties agree to the terms outlined in this IOU letter.
Mason Arnold
Lender
September 12, 2050
[YOUR NAME]
Borrower
September 12, 2050
6. Witness (Optional)
If a witness is present, their signature can provide additional verification.
Witness:
Charlotte Morgan
September 12, 2050
