34. When a holder makes a blank indorsement of a negotiable instrument that is bearer paper, what legal effect does this have? A. There is no effect-bearer paper does not need to be indorsed B. The bearer negotiates it by transfer alone and no further indorsement is necessary for negotiation. C. The instrument is no longer negotiable, as it has been altered. D. The instrument is converted into order paper. hent le pod against a holder in due course of a nata