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I haven't a clue on the legalities of your case OP, but I'd be tempted to return everything that he'd "given". Be gracious when you hand them back too, that should send him a loud and clear message!

This is governed, in the U.S., by the common law area of Contracts. An an agreement is made, and it can be verbal (but this is more difficult to support), that an item will be given conditional on getting something back for it, then the items exchanged are the basis of a contract, and not a gift. An engagement ring, for example, is seen as a contract. A contract has five elements to consider, as follows:

1. Agreement -- a meeting of the minds based on the offer by one and acceptance by the other, governed by the "rule of reason" as to whether such agreement took place
2. Consideration -- The bargained for legal value that one party agrees to pay or provide to secure the promise of the other party.
3. Capacity -- this addresses the issue of whether the agreeing parties were sober, of sound mind, etc.
4. Genuineness of Assent -- Both parties have to agree on what is being bargained for, in other words, what each party is giving to each other must be clear, not murky
5. Legality of purpose -- no violation of law or public policy must occur

if I give someone a car, perceived as a gift, and then I ask for it back, and there is no written or verbal agreement that the car was given CONDITIONAL to getting something else back (something that can be said to have value), and that that condition was not clearly articulated and agreed upon by both parties, then you are probably looking at a gift, not a contract. I read of a case once where a nephew was promised a sum of money if he abstained from smoking and drinking until he reached the age of 21. A sum of money (something of value) given up for another thing of value (no smoking or drinking), clearly understood, both parties having capacity , etc -- a contract.

Hope this helps.