Bonds are promissory notes; you lend a company money and they are expected to pay you interest for a stated period of time and your principal at maturity. As a bondholder, you are first in line to get paid back if the company goes out of business.

Describe the features common to all bonds. Explain the purpose of the indenture and the role of the trustee and differentiate among the different types of corporate bonds.

High-yield bonds or "junk bonds" are interesting investments. What is a high yield bond and please differentiate the variety of high-yield bonds, their sources of risk and return.