Pascal, Who Is 15 Years Old, Entered into a Contract

question 41

Essay

Pascal, who is 15 years old, entered into a contract with Wagers Antique Shop.He promised to trade his services as a computer programmer for an antique Bible.Under the terms of that agreement, he was required to begin work as a computer programmer as soon as Wagers delivered the book to him two weeks later.The next day, however, Wagers informed Pascal that it decided to keep the book for itself.Since Pascal is anxious to acquire the book, which is unique, he wants to bring a claim for specific performance.Explain why that claim may fail.Provide two (related) reasons for your answer.

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Definitions:

State and Local Taxes

Taxes imposed by state and local government entities that can include income, sales, and property taxes.

Form 1040EZ

Form 1040EZ was a simplified tax form for individuals without dependents and with an income under a certain threshold; it is no longer in use as of 2018, replaced by the Form 1040.

Tax Base

The total amount of assets or income that can be taxed by a government, serving as a critical element for determining tax rates and revenue.

Progressive Tax Rate

A tax system in which the rate of taxation increases as the taxable amount increases, applying higher rates to higher income brackets.