A stock is a promissory note with a fixed interest rate, contractual payments and principal.

Stocks may be sold for a value equal to the par value or maturity value.

Stocks represent ownership interest in the business and its assets.

Issuing shares of stock provides debt financing for companies.

If shares are sold below the par value, they are called discount shares. If the price or market value is above the par value, they are called premium shares.