Under what condition can a minor be a shareholder?

A minor can be a shareholder in a company, but typically this is done through the framework of a guardian or parent due to the legal restrictions on a minor's ability to enter into contracts. In many jurisdictions, minors lack the legal capacity to make binding agreements, which includes entering into share purchase agreements. Therefore, shares held by minors usually need to be managed by a parent or appointed guardian who can legally act on behalf of the minor.

The other options do not accurately reflect the legal framework. For example, while minors may have some ability to engage in contracts in limited circumstances, this does not extend to outright ownership of shares without the involvement of a guardian. Moreover, minors cannot hold shares directly without this arrangement, as it would contradict the legal protections intended for individuals who are not yet of age to fully understand the implications of share ownership and corporate governance. Lastly, asserting that minors have no rights related to shares neglects the fact that they do have rights, but these are exercised through their guardians until they reach adulthood.