Legally, you’re not well off here: taking money is an implicit acceptation of the contract.
Technically he needs your help since the project is still in its infancy.
Talk it out with your friend; proceed with a friendly conversation. Offer to give back the money, explain the possibilities of being together in this project and go for at least 50/50 equity with respect to the fact that you made a mistake. Mainly don’t be apologetic, at the same time don’t look down on him and avoid as much as you can the lawyer dad during the discussion. He has as much to lose as you do.
Legally, you’re not well off here: taking money is an implicit acceptation of the contract.
Technically he needs your help since the project is still in its infancy.
Talk it out with your friend; proceed with a friendly conversation. Offer to give back the money, explain the possibilities of being together in this project and go for at least 50/50 equity with respect to the fact that you made a mistake. Mainly don’t be apologetic, at the same time don’t look down on him and avoid as much as you can the lawyer dad during the discussion. He has as much to lose as you do.