Sara signs a promissory note payable on August 26, 2021 to the order of Natasha in the amount of $10,000. Natasha signs her name on the back of the note and hands the note to David in exchange for $9,500.

As to these facts which of the following statements is NOT true?

A.Natasha has primary liability as the note's payee.

B.Natasha has secondary contractual/signatory liability on the note.

C.Natasha has secondary transferor liability on the note.

D.Sara has primary liability as the note's maker