Harry and George have formed Popular Foods and Lively Potations, Inc. (PFLP), a California C Corporation. PFLP has two classes of stock: common and preferred. George is a preferred stock holder and he wants to swap over his shares for common stock, adjusted by a multiple. What kind of preference would be necessary in order to do this? 

a. Conversion right 

b. Redemption right 

c. Either conversion or redemption right 

d. Neither conversion nor redemption right

Answer rating: 100% (QA)

The detailed answer for the above question is provided below I A conversion right w... View the full answer