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English definition of “IOU”

IOU

noun [C] uk   /ˌaɪ.əʊˈjuː/ us    /-oʊˈ-/
abbreviation for I owe you: a written promise to pay back a debt: Here's an IOU for the fiver you lent me. I'll pay you back on Monday.Borrowing, lending and debt
(Definition of IOU from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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