Nwosu

Ogochuku C. Nwosu and Nwadinaume Felly Uba—both originating from Nigeria and who were friends for over 15 years—entered into a business transaction in 1995 involving Nwosu’s residence. Over four years later, a dispute arose concerning the nature of that transaction. Uba claimed that Nwosu sold the residence to her for $200,000 because he had outstanding obligations and needed capital for his business. A deed, sales agreement, and escrow instructions supported Uba’s contention. Nwosu, however, claimed that the transaction was, in reality, a refinancing arrangement under which *1232 Uba took title, subject to the parties’ oral agreement that, upon demand, she would reconvey the property to Nwosu at its original price.

Uba filed an unlawful detainer action to obtain possession of the premises. Nwosu filed a separate action to resolve the controversy concerning the transaction. His suit alleged several equitable claims, as well as a claim for fraud. Uba cross-complained, seeking to quiet title to the property and seeking recovery of money claimed to be due from loans made to Nwosu.

The court below proceeded first with a six-day bench trial of the equitable claims, expressly…