What is Call?

Legal Definition
n. 1. In English law. The election of students to the degree of barrister at law, hence the coremony or epoch of election, and the number of persens elected. 2. In conveyancing. A visible natural object or landmark designated in a patent, entry, grant, or other conveyance of lands, as a limit or boimdary to the land described, with which the points of surveying must correspond. Also the courses and distances designated. King v. Watkins (C. C.) 98 Fed. 922; Stockton v. Morris, 39 W. Va. 432, 19 S. El 531. 3. In corporation law. A demand made by the directors of a stock company upon the persons who have subscribsd for shares, requiring a certain portion or installment of the amount subscribed to be paid in. The word, in this sense, in 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 thrce meanings:

(1) The resolution of the directors to levy the assessment;

(2) its notification to the persens liable to pay;

(3) the time when it becomes payable. Railway Co. v. Mitchell, 4 Exch. 543; Hatch v. Dana, 101 U. S. 205, 25 L. Ed. 885; Rallroad Ch v. Spreckles, 65 Cal. 193, 3 Pac. 661, 802; Stewart v. Pub. Co., 1 Wash. St. 521, 20 Pac. 605. 4. In the language of the stock exchange, a "call" is an option to claim stock at a fixed price on a certain day. White v. Treat (C. Ct) 100 Fed. 290; Lumber Co., v. Whitebreast Coal Co., 160 111. 85, 43 N. E. 774, 31 In R. A. 529.
-- Black's Law Dictionary
Legal Definition
v. To summon or demand by name; to demand the presence and participation of a number of persons by calling aloud their names, either in a pre-arranged and systematic order or in a succession determined by chance.
-- Black's Law Dictionary
Legal Definition
A notice of a meeting; a stock assessment; a monumenti, landmark, course or distance in a survey. See 1 Wash. St. 521, 20 Pac. 605.
-- Ballentine's Law Dictionary