Universal Premium Acceptance Corp. issued more than $1 million in drafts, intending the payee to be Great American Insurance Co. When the drafts were issued, they were nonnegotiable instruments. Walter Talbot, an insurance agent, intercepted the drafts, forged Great American's endorsements in blank, and deposited the drafts in a phony account at York Bank & Trust Co. After Talbot was caught and convicted, Universal filed a suit in a federal district court against York to recover some of its losses. One of the issues in the case was whether Talbot's endorsements converted the nonnegotiable drafts into negotiable bearer instruments. [Universal Premium Acceptance Corp. v. York Bank & Trust Co., 69 F.3d 695 (3d Cir. 1995)] Do you think the endorsements converted the instruments to bearer instruments? Why or why not?