Acknowledgment

Acknowledgment: Voluntary Act of Signing
An Acknowledgment is a declaration by a person who has signed a document that such signature is a voluntary act, made before a duly authorized person. It is often done before a Notary Public.
IOU: A Signed Document Recognizing Debt
An IOU (phonetic abbreviation of 'I owe you') is a signed document that acknowledges debt and agrees on payment, often specifying the amount owed.

Finance Dictionary Pro

Our mission is to empower you with the tools and knowledge you need to make informed decisions, understand intricate financial concepts, and stay ahead in an ever-evolving market.