My brother, who is 19 decided a few months ago that he wanted to drop out of university and start his own business, my Dad being a business man himself was all for him doing this and lent him the money. I won’t say how much it was but it was a lot 5 figures and my Dad always said he didn’t have to give it back provided that all the money was invested.
He didn’t do this, in fact he decided to fly himself around on nights out with his ‘mates’ and has some how managed to spend of what would be to most people double a years income in 3 months! How we has done this is beyond me and quite frankly he is an immature idiot (so to speak) and has absolutely tore our family apart. He says he’s not paying it back and shouldn’t have to as it was agreed he didn’t have to but he didn’t spend it on his business, so I think he should.
Someone who knows about this area of law, can my Dad take him to court or not? He never signed a contract and just lent him the money out of the kindness of his heart and he’s just thrown it back in his face what can he do and will he ever get is money back, to be honest my brother hasn’t got any money to give him back.