Call generally means to request or to use an option. Call has a few different meanings that arise in the legal context:
- A person “calls” an option when they choose to use a call option for buying an asset. The person gets to buy a certain amount of an asset for a certain price after calling the option.
- A person calls in debt owed to them from someone by requesting payment.
- The Speaker of the House calls a meeting to order.
[Last updated in June of 2021 by the Wex Definitions Team]