You just got off the telephone with one of your clients who is wanting to start a new business as a corporation. His question to you was concerning the different types of shares that can be issued to the potential shareholders 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
Prepare a letter to your client explaining the different types or classes of shares that can be issued, and the characteristics of each different type.