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A is corrent because Nelson’s blank endorsement allow the check to remain as bearer paper, which can be negotiated by delivery alone.
B is incorrect because an instrument is bearer paper if it states it is payable to a named person or bearer and there are no endorsements on the back.
C is incorrect because Maxwell’s blank endorsement converts the instrument from order paper to bearer paper in Howard’s possession. A blank endorsement is present when the endorser does not name a specified person in the endorsement as the endorsee (i.e., the transferor’s signature alone).
D is incorrect because Duffy’s endorsement is an example of a special endorsement which creates order paper in Maxwell’s possession. Proper negotiation of order paper demands delivery and endorsement. Consequently, Maxwell’s signature was necessary for negotiation of the check.