OTHER MATTERS RELATING TO SHARES 109
6. A company does not run any practical risk in issuing
dividend warrants to a member, though he may be an infant.

7. A transfer of shares by an infant is voidable. It is
advisable to refuse to accept a transfer by a shareholder known
to be an infant; but if the company registers such a transfer
to an adult it cannot go behind it.

8. An infant holder of partly paid shares is liable for calls
unless and until he repudiates the shares.

The allotment of shares to an infant is dealt with in Chapter
VI