Daedalus Property Mgmt., Inc. v. Pensco Services,
Daedalus Property Management, Inc. (Daedalus) appeals from a judgment against it after a bench trial in its lawsuit against Pensco Services, LLC, FBO Robert L. Earl IRA (Pensco) in which Daedalus sought to cancel a deed of trust held by beneficiary Pensco as a result of a loan that was secured by real property currently owned by Daedalus and that was obtained by Daniel Rivas on behalf of Daedalus's predecessor corporation, Costa Casa Property Management, Inc. (Costa Casa). According to Daedalus, the evidence presented at trial established that Rivas lacked authority to obtain the loan and encumber real property on behalf of Costa Casa. We conclude that substantial evidence supports a finding that Rivas had ostensible authority to bind Costa Casa to the loan and the deed of trust, and we accordingly affirm the judgment.
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