The default line style is a solid line, 0.02 inches thick. The default color is black. You can modify the default settings by right-clicking over the highlighted rectangle and selecting Properties. Holding the pointer over the rectangle for several seconds and clicking the Modify button on the pop-up box also achieves this.
By increasing the number for the Rounding radius option, the corners on the currently selected rectangle will round in correlation to the value of the number. A Rounding radius value of 0 means that the rectangle will have sharp corners. Any value greater than 0 means the rectangle will have rounded corners; the higher the value the more round the corners will be.