Harvey Morris Bought Dishes and Pitchers Made of Blue Glass

question 224

Multiple Choice

Harvey Morris bought dishes and pitchers made of blue glass during the Great Depression at a flea market.He later resold these items on eBay.The profits Harvey earned from these sales are

• A)subject to a retail profits tax.
• B)not economic profits because Harvey did not add value to the items but took advantage of the buyers who were not aware of how much Harvey paid for the items.
• C)the result of arbitrage.
• D)accounting profits but not economic profits.

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The title or designation of a particular lawsuit involving legal disputes between parties in a court of law.

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A collection of documents, evidence, and records related to a particular legal case.

Equitable Remedy

A form of justice provided by courts in cases where monetary damages are insufficient, such as injunctions or specific performance orders.

Injunction

A court order requiring a party to do or to refrain from doing specific acts.