When a Person Transfers a Negotiable Instrument,to Whom Does This

Multiple Choice

When a person transfers a negotiable instrument,to whom does this transferor make transfer warranties?

A) only parties to whom the transferor makes a written assertion in connection with the transfer
B) for all transfers, to the immediate transferee only
C) for all transfers, to the immediate transferee and all subsequent transferees
D) for transfers for consideration, to the immediate transferee, and if the transfer is by indorsement, to all subsequent transferees as well
E) to subsequent transferees only