Call
A Dictionary of Law · Henry Campbell Black · 1891
A Dictionary of Law
1.
In English law
The election of students to the degree of barrister at law, hence the ceremony or epoch of election, and the number of persons elected.
2.
In conveyancing. A visible natural object or landmark designated in a patent, entry, grant, or other conveyance of lands, with which the boundaries are required to correspond. Also the courses and distances designated.
3.
In corporation law. A demand made by the directors of a stock company upon the persons who have subscribed for shares, requiring a certain portion or installment of the amount subscribed to be paid in. The word, in this sense, is synonymous with "assessment," (q. v.) A call is an assessment on shares of stock, usually for unpaid installments of the subscription thereto. The word is said to be capable of three meanings: (1) The resolution of the directors to levy the assessment; (2) its notification to the persons liable to pay; (3) the time when it becomes payable.
4 Exch. 543. 4.
In the language of the stock exchange, a "call" is an option to claim stock at a fixed price on a certain day. Dos Passos, Stock-Brok.
70.