Effective. Generally speaking, the IOUs concluded between the parties have legal effect if they meet the following conditions: 1. Both parties have corresponding capacity for civil conduct. 2. The content does not violate the law. 3. Both parties express their true intentions and sign the agreement voluntarily. Article 465 of the Civil Code. Contracts established according to law are protected by law. A legally established contract is legally binding only on the parties, except as otherwise provided by law.
Legal objectivity:
Article 143 of the Civil Law of People's Republic of China (PRC) is valid if a civil juristic act meets the following conditions: (1) The actor has corresponding capacity for civil conduct; (2) the meaning is true; (three) does not violate the mandatory provisions of laws and administrative regulations, and does not violate public order and good customs. Article 144 of the Civil Law of People's Republic of China (PRC) A civil juristic act carried out by a person without capacity for civil conduct is invalid.