Property Company borrows $100,000 at 5 percent interest from Quick Loans LLC and signs a note for the amount. Without Property's authorization, the lender changes the amount of the note to $120,000 and increases the rate to 6 percent. This alteration is a defense to payment on the note against

A) no one.
B) ordinary holders only.
C) ordinary holders, HDCs, and holders through HDCs.
D) HDCs only.

The unauthorized alteration of the terms of a negotiable instrument, such as increasing the amount and interest rate without the maker's consent, renders the instrument void against all parties, including ordinary holders, holders in due course (HDCs), and holders through HDCs. This is because the alteration materially changes the obligations of the parties involved, and the law protects the maker from being held to the altered terms.