IOU. An IOU (abbreviated from the phrase "I owe you")[1][2] 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.[3] California Registered Warrants[edit] Also referred to as "IOUs" by the U.S. state of California, the term "Registered Warrants", which specify a future payment date, is meant to differentiate these IOUs from regular, or “normal” payroll warrants which permit the holder to exchange their warrant for cash immediately.
See also[edit] References[edit] Promissory note. A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. If the promissory note is unconditional and readily salable, it is called a negotiable instrument.[1] Referred to as a note payable in accounting (as distinguished from accounts payable), or commonly as just a "note", it is internationally defined by the Convention providing a uniform law for bills of exchange and promissory notes, although regional variations exist.
Bank note is frequently referred to as a promissory note: a promissory note made by a bank and payable to bearer on demand. Mortgage notes are another prominent example. Overview[edit] International law[edit] United States law[edit] British law[edit] History[edit] Difference from IOU[edit] Difference from loan contract[edit] Threebles. Threebles is a proposed single currency system. It is a B2B asset backed currency system where the net value of all "Threebles" in the system is 0. This is possible because all transactions create a debt and a credit that offset each other. Threebles are a complimentary currency, meant to be used in addition to the normal legal tender of the currency network participants' legal jurisdiction. The name "Threebles" comes from the idea of "Three Bottom Line Economis"(3ble). The idea is that currency should allow us to value more that simply profit in our transactions, and that currency systems should be designed to target additional metrics, and specifically "People, Planet, and Profit.
" The Threebles currency system is still under development. It appears that the Threebles project is an offshoot of the Metacurrency Project. Threebles as a P2P Currency System The Threebles concept is a sound base for a P2P Currency. Threebles - Triple Bottom Line Economics. Troco, a peer-to-peer currency based in google wave. The WAT-System. Opentabs.net.