noun
I owe you
eye OH yoo
I owe you (noun) means a signed note acknowledging a debt, usually written informally and stating what is owed rather than when it will be repaid; normally written IOU. Example: “He left an IOU for twenty pounds under the biscuit tin.”
noun
1
A signed note acknowledging a debt, usually written informally and stating what is owed rather than when it will be repaid; normally written IOU.
"He left an IOU for twenty pounds under the biscuit tin."
"The company was propped up by little more than a stack of IOUs."
phrase
1
informal Used to acknowledge that someone has done you a favour that you intend to repay.
"Thanks for covering my shift, I owe you one."
"I owe you big time for this."
How to use I owe you
Learner’s notesIn plain EnglishA note saying you owe someone money, or a way of saying you will return a favour.
When to use it
IOU is neutral in financial contexts; I owe you one is casual spoken English.
Common pairings
write an IOU
leave an IOU
I owe you one
I owe you big time
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Thanks for covering my shift, _____ one.
Etymology
The noun IOU is a spelling of the spoken phrase I owe you using the sounds of the three letters.
Synonyms
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Rhymes for I owe you
See all rhymes for I owe you →Frequently asked questions
Is an IOU legally binding?
It can be evidence of a debt, but on its own it is weak. Because a typical IOU names no repayment date, interest or consequences, courts treat a properly drawn promissory note or loan agreement as far stronger.
What is the difference between an IOU and a promissory note?
An IOU simply admits that money is owed. A promissory note goes further and promises to pay a stated amount by a stated date, often with interest and signatures, which makes it enforceable.
How do you write an IOU?
Give the date, both names, the exact amount, what it is for, and sign it. Adding a repayment date and a witness turns a casual note into something much more useful if there is a dispute later.
What is the meaning of I owe you?
"I owe you" (noun) means a signed note acknowledging a debt, usually written informally and stating what is owed rather than when it will be repaid; normally written IOU.
