The correct answer is: B. Transmission of shares.
Transmission of shares is the transfer of shares by operation of law, such as by death, bankruptcy, or divorce. The shares are transferred to the deceased’s estate, the bankrupt’s trustee, or the divorcing spouse, as the case may be.
Surrender of shares is the voluntary relinquishment of shares by a shareholder. The shares are returned to the company, which may then reissue them to another shareholder.
Redeemable shares are shares that the company has the right to repurchase at a specified price. The company may redeem the shares at any time, but it is usually required to give the shareholders advance notice.
Irredeemable shares are shares that the company cannot repurchase. The shareholders are therefore entitled to hold the shares indefinitely.
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