IOPHON, Greek tragic poet, son of Sophocles. He gained the second prize in 428 B.C., Euripides being first, and Ion third. He must have been living in 405, the date of the production of the Frogs of Aristophanes, in which he is spoken of as the only good Athenian tragic poet, although it is hinted that he owed much to his father's assistance. He wrote 50 plays, of which only a few fragments remain. It is said that lophon accused his father before the court of the phratores of being incapable of managing his affairs, to which Sophocles replied by reading the famous chorus of the Oedipus at Colonus (688 ff.), with the result that he was triumphantly acquitted.
See Aristophanes, Frogs, 73, 78, with scholia; Cicero, De senectute, vii. 22; Plutarch, Moralia, 785 B; A. Nauck, Tragicorum Graecorum fragmenta (1889); O. Wolff, De lophonte poeta (Leipzig, 1884).
I.O.U. (" I owe you "), a written acknowledgment of a debt. It usually runs thus:
To . I.O.U. pounds.
(Signed) . Date .
An I.O.U., if worded as above, or even if the words " for value received " are added, does not acquire a stamp, as it contains no terms of agreement. If any such words as " to be paid on such a day " are added, it requires a stamp. An I.O.U. should be addressed to the creditor by name, though its validity is not impaired by such omission. Being a distinct admission of a sum due, it is prima facie evidence of an account stated, but where it is the only item of evidence of account it may be rebutted by showing there was no debt and no demand which could be enforced by virtue of it. An I.O.U. is not negotiable.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)