Ethics/Legal Question

I have a question for everyone that is interested. I already have my own feelings on this subject, but wanted to make sure I wasn't being unfair or biased.

Here is the situation, a son wants to start a business against the advice of his parents. He needs a loan and eventually convinced his parents to put up about 40 acres of their land and two rent houses as collateral. The business fails rather quickly and the property is lost. The son manages to buy most of it back from the back, but keeps it as his own. I feel that him deeding the land that he purchased back to his parents is the right thing to do since it was theirs and they lost it because of him. He feels that since HE bought it, it is HIS regardless of the prior arrangements. Am I being unreasonable to feel that he has an ethical obligation to give the land back to his parents?

Yes, giving it back is the right thing to do, but our society tends to value money more than family nowadays.

40 Acres! WOW, I would be set up financially for a very long time.
That boy would be a good politician. Particularly a democrat.
They have no morals.

Agreed, giving it back in my eyes is the correct and moral thing to do.

he needs to give it back his parents there the ones putting up everything, but really it sounds like a scam he put up their land up, put a lil investment into the "buissness" from the loan then it floped and he spent the rest of money from the buissness into buying the house then he gets a free house or sells it to get a nice amount of "legal" money.

Additionally, I don't feel he was obligated to buy it back, but since he did... ya know.

Interesting Albino. He is a cheapskate and screws over the people he gets to help him, i.e. not paying them a decent wage. He takes advantage of people, but I don't think he had that plan. He's always been a terrible business person partly for the reasons listed in this post.

What a lil bastard! He should be giving the land back to his parents since they risked everything, then lost it for him. I hope he feels extremely guilty and gets Lou Gehrig's disease!

His parents obviously cared about him. He would have to be a true scumbag to fuck them over.

His parents obviously trust him, but even more obviously, there should have been some sort of contract in place stating that if the business went under all assets used for collateral must be paid back in full. Would it have been the nice thing to do to give the land back? Yes, it's what I would have done because I love my parents and want them to be happy too.

Legality is another matter, if they gave him the land without a legal arrangement and it got lost it's their fault for not being more prepared when going into a business venture. Part of business involves risk, you should know that before investing in something. Hindsight is always 20/20.

Either way the son seems like a bit of a cunt.

Im pretty sure my dad would just kill me for some shit like that. Thats not what family does to each other. And if you arent family hes a dirty theif and deserves to die and slow death. I cant even beleive somebody would have the balls to do that and sleep at night. Much less showup for Christmas or T-day...

I think the other brothers need to take him out back. And the dumbass enabling parents need to be slapped for getting into this position. This isnt the first shady thing the guy ever did.

Legally he is in his full right to do so, the parents were stupid for putting out something like that as collateral in something they didn't believe in.
That being said, of course the guy is a douchebag. If he was able to get enough money to buy the land and houses back, he should have been able to fund his own shit.

Ok, thanks everyone. I just wanted to make sure that my own personal gripes against him weren't clouding my judgement. His parents are too nice to ask him for the land back.. and too proud I think. He only managed to get half of what they lost back. Now they have too look out their window and see all the trailors and stuff on their old property. It was a nice neighborhood, but now it's covered in trashy trailors.

(please don't read into that. I'm not saying that all trailors are trashy nor the people that live in them. But these trailors actually are trashy trailors.)