mijobooks Chapter 19: IOU
Chapter 19: IOU
This homework sheet is actually an IOU.
I, Lin Qi, ID number: 37068319910705****, borrowed RMB 10000.00 in cash from Zhuo Mingxiu on March 16, 2009, due to personal financial needs.
Both parties voluntarily agreed that the loan interest rate would be 05% per month, the loan term would be two months, and both parties promised to settle all principal and interest in one lump sum on May 16, 2009, repaying the principal and interest in full.
If I fail to repay the full amount on time, I voluntarily agree to bear all liabilities for breach of contract and related expenses arising therefrom.
This document is hereby established and serves as proof; it is legally binding.
Borrower (signature and fingerprint): Lin Qi
Lender (signature):
Date of issuance: March 16, 2009
Zhuo Mingxiu was quite surprised when she saw the contents of the IOU.
Because this IOU was written very professionally.
Even from her perspective as a professional lawyer, there's nothing wrong with it.
The problem is that the IOU actually included interest.
Moreover, the monthly interest rate is only 1%.
A monthly interest rate of 1% means 1% interest per month, which translates to an annual interest rate of 12%.
This is an extremely high interest rate; any higher and the law will not protect it.
This kid has even studied law?
Zhuo Mingxiu glanced at Lin Qi and handed the IOU back: "No interest required, this interest rate is too high."
"Interest must be paid."
Lin Qi did not accept the money, his expression calm: "I am already very grateful that you lent me this money."
If I were to apply for a small loan, the interest rate would definitely be higher than this.
Does he also know the interest rates on microloans?
Could it be that she tried to get a small loan but couldn't, so she turned to Song Shiyin?
Zhuo Mingxiu immediately became wary and stopped insisting on not charging interest.
However, after glancing at the IOU, she still reminded him, "You don't need to be in such a hurry to pay it back. I already said you can pay it back whenever you have the money."
The IOU stipulates a repayment period of two months, which is indeed a bit too tight.
"I'll have the money in two months."
Lin Qi didn't seem to care at all and even handed her a pen: "Auntie, if you think it's okay, just sign it."
Will I have money in two months?
Where does his confidence come from?
Zhuo Mingxiu became increasingly puzzled.
She suddenly realized that this kid wasn't as simple as he seemed.
After reviewing the IOU again and confirming there were no problems, she thought for a moment and then asked Lin Qi, "Are you sure you want me to sign it? Once I sign it, the IOU will be legally binding."
"I'm sure, go ahead and sign."
Lin Qi nodded calmly.
After giving him a deep look, Zhuo Mingxiu took the pen and signed his name as the lender on the IOU.
"There's one more."
Lin Qi took out another piece of paper with the same content written on it.
Zhuo Mingxiu was slightly taken aback.
Seeing this, Lin Qi reminded her, "Make two copies."
Zhuo Mingxiu knew, of course, that IOUs should be written in duplicate; she just hadn't expected Lin Qi to be so professional.
How could a high school student be so adept at borrowing money?
Did he borrow it many times?
She certainly wouldn't know how many times Lynch had suffered margin calls before becoming a top trader.
And how many times have they risen from the ashes?
Every time you make a comeback, you need to re-accumulate initial capital.
And naturally, writing IOUs is essential for rebuilding initial capital.
After taking the second IOU from Lin Qi and comparing it with the first one to confirm that they were completely identical, Zhuo Mingxiu signed her name.
"Is it okay now?"
She handed the second IOU to Lynch.
"That's fine."
Lin Qi took the IOU, glanced at it, folded it neatly, and put it in his pocket. He then said earnestly, "Thank you, Auntie. I will pay you back on time."
"……good."
Zhuo Mingxiu paused for half a second before nodding.
"Well... I'll be going now."
She gestured to Liu Yan, who was standing to the side.
"Alright, Attorney Zhuo, you can get back to work then."
Liu Yan walked two steps to see him off.
"Wait a minute, wait a minute, you go ahead with your work."
Zhuo Mingxiu turned around politely, glanced at Lin Qi, then clutched the first IOU and hurriedly left.
She quickened her pace unconsciously, as if her body wanted to leave quickly on its own.
Watching her walk away, Liu Yan turned her gaze away and instructed Lin Qi, "Keep the money safe, don't lose it."
That's ten thousand yuan; losing it is no small matter.
"I know."
Having received the money, Lin Qi wasted no time and immediately asked Liu Yan for leave: "Teacher, I would like to ask for a week's leave."
"A week? No way!"
Liu Yan refused without hesitation: "What are you thinking? The college entrance exam is just around the corner. At such a crucial time, not a minute can be wasted. You want to take a week off?"
Lin Qi had anticipated her reaction.
But he still insisted: "I have to ask; this is more important than the college entrance exam."
If you don't agree, I'll have to prepare to repeat a grade next year.
Hearing him say that, Liu Yan panicked.
Lin Qi's grades were among the best in his class.
If he doesn't take the college entrance exam, it will definitely affect the class average score.
The homeroom teacher's bonus is also linked to the students' college entrance examination scores.
His resolute attitude forced Liu Yan to seriously consider his request.
"Is it mandatory to invite them?"
Liu Yan hesitated before reminding him, "Such a long leave requires approval from the academic affairs office; I can't make that decision."
"Then please speak to the head of the academic affairs office."
Lin Qi's attitude was firm: "Anyway, I'm definitely going to invite them."
Liu Yan couldn't refuse him, so she had to agree: "Then you go back to class first, and I'll report to the leader."
"Okay, thank you for your help, teacher."
Lin Qi said sincerely, "After morning self-study ends, I have to leave regardless of whether the academic affairs office agrees or not."
"You silly child..."
Liu Yan grumbled helplessly and then turned and headed towards the Academic Affairs Office.
Back in the classroom, Lin Qi sat back down and started tidying up his review materials.
Although he needed to ask for leave, he didn't want to waste this week.
He plans to bring all the textbooks and review materials he needs with him, so he can take a look at them whenever he has time.
After waiting for a long time, the bell finally rang, signaling the end of morning self-study.
But Liu Yan hasn't returned yet.
Lin Qi sat for two minutes, but still didn't see her, so he simply picked up his schoolbag.
He didn't want to wait any longer.
As he approached the back door and was about to leave, a figure suddenly appeared from his right.
The first thing Lynch saw was a bouncing ponytail.
"Lynch!"
A sharp, clear voice rang out: "Where are you going?"
Sunlight streamed into the corridor, but it seemed slightly dimmed by the girl's bright smile.
"Song Shiyin".
Lin Qi called out her name and smiled slightly.
Students passing by in the corridor couldn't help but cast glances at Song Shiyin.
She was wearing the same school uniform as Lynch and all her classmates, but it was as if she were on another layer.
"Did my mom come looking for you?"
Song Shiyin asked Lin Qi, "Did she give you the money?"
"I've given it to me."
Lin Qi thanked him sincerely, "Thank you so much! You've really gone to a lot of trouble."
"Don't mention it. We're classmates, it's good that I can help."
Song Shiyin playfully raised her chin.
At that moment, Lin Qi saw Liu Yan walking quickly towards him from the distance of the corridor.
Seeing that Lin Qi hadn't left yet, Liu Yan breathed a sigh of relief, quickly walked over, and handed Lin Qi a leave slip: "Approved, seven days. You have to be back on time next Monday!"