The IOU reference article from the English Wikipedia on 24-Jul-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

IOU

An IOU is a promise of money, goods, services, or other items of value, and may be either written or verbal. An IOU is less formal than a contract, and is generally not held to be legally binding.

While it appears as an acronym, it is a homophone for I owe you.

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