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| Filmore had a negotiable instrument in its possession which it had received in payment of certain equipment it had sold to Marker Merchandising. The instrument was originally payable to the order of Charles Danforth or bearer. It was endorsed specially by Danforth to Marker which in turn negotiated it to Filmore via a blank endorsement. The instrument in question, along with some cash and other negotiable instruments, was stolen from Filmore on February 1. Which of the following is correct? A. The theft constitutes a common law conversion which prevents anyone from obtaining a better title to the instrument than the owner. B. Once an instrument is bearer paper it is always bearer paper. C. Filmore’s signature was necessary in order to further negotiate the instrument. D. A holder in due course will prevail against Filmore’s claim to the instrument. |