Crossword Genius

Promise to pay (3)

Ross

I believe the answer is:

'promise to pay' is the definition.
(I owe you, a promise to pay a debt)

This is all the clue.

(Other definitions for iou that I've seen before include "I owe you" , "Proof of debt" , "Admission of liability" , "Debt note (abbr.)" , "Chit acknowledging debt" .)

I've seen this clue in The New York Times.
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