Peterson

facts to those that bear directly on the issues on appeal. 2 Our references to the “property” or “Estates Drive property” are intended to include both parcels. 3 CityFed is a licensed real estate brokerage firm. Both Cunningham and Bonner testified they believed CityFed was Wheat’s company or that Wheat had a controlling interest in CityFed.

2 The relationship between Cunningham and Wheat subsequently broke down and Wheat then suggested to Bonner that he purchase the Estates Drive property.4 Bonner had known Wheat for more than 10 years and Wheat was, at some point, the chief financial officer of Bonner’s biotech company, FICARR, Inc. Bonner agreed to purchase the property for $2.5 million.5 With assistance by Wheat and others, Bonner obtained a $2.4 million loan from Equity Funding Group, LP and EFG Mortgage Acq., LLC (collectively EFG) for the purchase of the property. Plaintiff KGMW, LP is the successor in interest to

EFG.

An escrow account at Placer Title Company was used for the transaction, with Johnson serving as the escrow agent. On October 23, 2006, Bonner signed the preliminary title report prepared by Placer. The report identifies the property by address, but the…