City of Los Angeles v. Cohen

Defendant appeals from a judgment in favor of the city of Los Angeles for unpaid license taxes imposed under section 21.108 of the city license ordinance. The ordinance excepts the business of engaging in transactions for the purchase or sale of real property and of making loans secured by liens upon real property.

The facts for the most part were stipulated and the remaining facts are not in dispute. The question is whether defendant was engaged in the business of purchasing or discounting or arranging for the purchase or discounting of any obligation of money due or to become due, or any…