Minor capacity to contract: guardian's name should appear in the register when shares are held for a minor. A minor cannot be entered in a company's register of members because membership requires a written agreement and a minor lacks contractual capacity except through a guardian. A guardian may contract or purchase fully paid shares for a minor, but the register must show the guardian's name, not the minor's, and it may not indicate that the guardian holds the shares on behalf of the minor; the guardian remains fiduciarily accountable to the minor.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Minor capacity to contract: guardian's name should appear in the register when shares are held for a minor.
A minor cannot be entered in a company's register of members because membership requires a written agreement and a minor lacks contractual capacity except through a guardian. A guardian may contract or purchase fully paid shares for a minor, but the register must show the guardian's name, not the minor's, and it may not indicate that the guardian holds the shares on behalf of the minor; the guardian remains fiduciarily accountable to the minor.
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