You just got off the telephone with one of your clients who wants to start a new business as a corporation. His question to you was concerning the different types of stock that can be issued to the potential stockholders of this new corporation. You had explained it to him during the telephone call, but you thought you should follow up your conversation with a letter.

Requirement
1. Prepare a letter to your client explaining the different types or classes of stock that can be issued, and the characteristics of each different type.