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IOU

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noun \ˌī-(ˌ)ō-ˈyü\

Simple Definition of IOU

  • : a usually written promise to pay a debt

Source: Merriam-Webster's Learner's Dictionary

Full Definition of IOU

  1. 1 :  a paper that has on it the letters IOU, a stated sum, and a signature and that is given as an acknowledgment of debt

  2. 2 :  debt, obligation


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