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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