1) An agreement by a minor to take shares in a company is void, and shares allotted to a minor can be repudiated by the company with repayment of money received for the shares. 2) A minor can also repudiate the share allotment and claim repayment of amounts paid. If the minor's name remains on the register of members during minority, they do not incur shareholder liabilities and cannot be held as a contributory if the company winds up. 3) If a minor acquires fully paid shares by transfer or transmission, their name may be admitted to the register of members.