Issuance of stock
May issue only such stock authorized in the certificate of incorporation. Cert. may deny, limit, or otherwise define voting rights of the stocks.
Consideration: money or other property, tangible or intangible, services rendered to corp, or binding promise to pay price. Stock with par value may not be issued for less than the par value. If it does, shareholder is liable to corporate creditors for the difference.
Stock subscriptions: Promise to buy stock once corp comes into existence. Must be in writing and signed by subscriber. Irrevocable for three months.