Dwarves - A Race that prefers to live underground or in the side of a mountain, and can live comfortably anywhere from the coldest tundra to the hottest desert. Though most Fortresses far from the Mountain-homes tend to become abandoned or get destroyed.
In Comparison to Humans, Dwarves are extremely short, but quite muscular, broad, and strong. They pride themselves on industrial endeavors, have a strong sense of community, and welcome trade with Humans, other Dwarves, and Elves - assuming the Elves aren't on a crusade against them. Actions by a Dwarf against another Dwarf are unthinkable in Dwarven society regardless of reason.
They believe in the fair treatment of sentient beings both living and dead, while having a strong community attachment to ensuring fallen Dwarves are honored and respected. Out of all the races they have the strongest sense of their surroundings; capable of entering a martial trance, but also knowing when they need to launch of a per-emptive strike against another civilization.
All and all, Dwarves are robust beings that strive for progress and the efficiency of their forts. However, where a Dwarf may not find his skills not being put to adequate use, he may set off on adventure outside of the Fortress into the World, or embark with other Dwarves to begin new Outposts or join fledgling Outposts for the glory of all Dwarves!
Humans - A Race that prefers to live above ground under the blue sky. While not like Dwarves in being comfortable living everywhere, Humans wills generally live in hills and fields in wooden houses or stone keeps. They will also live in forests - after they remove a tree or two hundred.
In comparison to the other Races, the Humans are the tallest and biggest with the average qualities in regards to everything else. Humans are greatly impressed with wealth and status, and knowing that their lives are shorter then the other races they go to great lengths to acquire it anyway they can. While Humans will quickly punish criminal actions, they do accept that sometimes there is a good reason for doing so.
They are also quick to protect their interests though and are quite naive and suspicious of the other races. Humans are somewhat like Dwarves in that they respect living and dead sentient beings, though they value their security and will willing torture others if they feel it is threatened and believe that not every peasant needs a coffin or a slab to be remembered.
Humans are ambitious and while they live they are always interested in acquiring more wealth or status. This can lead many to a life of banditry or to take the life of an adventurer, though for many just working hard in what they do can be enough for them as sometimes one can appreciate reaping the reward of his labors from his crops.
Elves - A Race that prefers to live outside in the shade of Forests and Jungles. Unlike Humans and Dwaves they are also fine with living deep in the Wilderness alongside natures creatures.
Elves are nearly as tall as Humans but far more slender and dextrous. They are also natures guardians and protectors and will quickly defend against transgressions that Nature cannot. That said though, Elves have a deep understanding of the social workings of other races and understand they have their own needs. As such they will always attempt to mediate with other races so they can reduce their transgressions against nature.
Outside of protecting nature, Elves tend to be more forgiving on criminal actions, especially where there is good reason for the actions, and mostly cast shame or exile on criminals. They care little about the dead but find it reprehensible to desecrate the remains of a corpse that should be left to be reclaimed by nature. That said, they won't let good meat go to waste either.
Looking past their fierce guard of Nature or their lax criminal action on criminals, Elves begrudgingly realize that sometimes you need to protect yourself. They will set out to put down a wild animal terrorizing a nearby Human Hamlet, or stop a band of Brigands from harassing Traders.
Goblins - A Race that prefers to live in Dark Fortresses, it doesn't really matter where those Fortresses are as the Goblins will be fine with living in them. Even in the undead walk outside or death rains from the sky, the Goblins are fine with staying indoors.
In comparison to Humans, Goblins come across as being short and frail; however they are also far more vicious and aggressive. Goblins are Evil by nature, and take great joy in attacking, plundering, kidnapping, and killing others. However, they are cowards and they don't enjoy those actions too much when done against them.
Goblins have no sense of ethics or laws and it is pretty well every man for themselves; it is basically the law of whoever has the biggest club. While there are Goblins Wives and Husbands, that doesn't stop the unmarried female Goblin from having babies left and right. It should come with little doubt that such conditions tend to produce quite a bit of rabble, but some of the produced rabble can become quite skilled.
Really, all a Goblin seeks is enjoyment. However, they get that enjoyment out of the misfortune of others. An Adventuring Goblin is little more then a vicious sociopath with a justified reason to maim, torture, and humiliate someone.
Kobolds - Just a tribal race that lives in Caves really, doesn't really matter where the Cave is either.
Kobolds are extremely small, but quite fleet of foot. They are greatly impressed with shiny or valuable items and like to accumulate as much as possible. They are also extremely paranoid around Adventurers, as they believe the only reason and Adventurer would be anywhere near their cave would be to hunt and kill them.
Kobold justice is similar to that of the Goblins, but this is mostly due to the overpopulating nature of Kobolds then anything else. Kobolds aren't Evil like goblins and they due have their tribal foundations in place to provide some semblance of community structure. This alone makes Kobolds much bolder then Goblins could hope to be, not to mention make Kobolds much better Tacticians then Goblins - for all the little good it does them though.
The Life of the Kobold is really just to serve his fellows. The Kobold does what he needs to to bring glory to his Tribe in anyway he can. Even as an adventurer, a Kobold would always be pushing forward to defend his Tribe.