If Jonathan Indorses an Instrument in Blank and Gives It

Multiple Choice

If Jonathan indorses an instrument in blank and gives it to Lily, she _____.

A) must indorse it before it can be negotiated further
B) may negotiate it without indorsing it
C) cannot convert the blank indorsement to a special one
D) is not liable even if she indorses it as it was given to her by Jonathan