Only if his obligation to you is transferable - that is, if you can freely pass it onto another person, and then the debt is owed to that other person. For exam

Only if his obligation to you is transferable - that is, if you can freely pass it onto another person, and then the debt is owed to that other person. For example, he could write you an IOU for one dollar, and then you could give that dollar IOU to another friend (possibly in exchange for goods and services). In that case yes, you have created money.