Eva, an infant, applied for and was allocated shares in a company; she received no dividends…

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Eva, an infant, applied for and was allocated shares in a company; she received no dividends

and attended no meetings. She is still to turn 18, and has received a call on the shares. (Note: A

“call on the shares” means the demand made by the company on Eva to pay the unpaid balance

of the price of the shares she owns within a specified time.)

On the day she received the call on the shares, she heard on the news that the forecast on the

economy for Australia is looking rather bleak. Eva wishes to know whether she is bound to pay

the balance of the price of the shares held by her; and whether she can recover the money

already paid to the company.

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