If there is only one answer it is for both sects.
1. Siddhartha Gautama was born a rich prince. Then at the age of 29 he went to search for an ultimate solution for the
problem of the suffering innate in the human condition. After being in six years of spiritual dicipline he achieved the supreme
enlightenment. He then spent the remaining 45 years of his life teaching his ways to establish a community of monks and nuns
to continue teaching when he died.
2. There are 5 basic moral precepts. Refrain from taking life, stealing, acting unchastely, speaking falsely and drinking
intoxicants.