A stockholder has several rights as an “owner” of a corporation. Furthermore, the rights of preferred stockholders are sometimes modified upon the issuance of preferred stock.

Required
1. List and briefly explain stockholders’ rights as they pertain to common stockholders. Indicate the relative importance of each.
2. List and briefly explain what characteristics might be attached to preferred stock. Indicate the set of characteristics that makes preferred stock more like a long-term bond than a common stock.